Altcoin
Cardano, Shiba Inu, Jasmy Grabs Interest Of Big Whales, Trigger Buy Signal
The recent recovery in the crypto market brings some altcoins in the buying range, with whales even starting to accumulate these before prices rally. On-chain data pointed out three altcoins witnessing massive whale activity — Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). Are these three trending cryptocurrencies in an early bullish phase?
ADA, SHIB, JASMY Record Massive Whale Activity
Whale interest in Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) has surged in the last few days, reported on-chain data platform Santiment on June 6. This indicates whales have returned to accumulate these coins after a lull.
The amount of $100K+ transactions on Cardano, Shiba Inu, and JasmyCoin networks have more than doubled this week as compared to the 2024 averages, signaling sudden massive accumulation by whales. Massive accumulation by whales is considered a buy signal as whales tend to buy low and sell high.
“Cadano, Shiba Inu, and Jasmy are all enjoying surges, each appearing to be triggered after a spike in whale interest.”
Cardano whales have gradually added ADA to their holdings since April. Cardano whales holding between 100 million and 1 billion ADA accumulated 11% to their wallet, as per IntoTheBlock. This group of whales now holds 6.71% of the entire ADA supply.
Lookonchain revealed that 9 wallets spent $35.2 million to buy 1.356 trillion SHIB. Today, a whale (0xa14) accumulated 37 billion SHIB from Binance.
JASMY continues to witness massive buying from whales and retail investors. However, profit booking has also unusual during buying.
Also Read: Shiba Inu Burn Rate Shoots 3900% Amid Whale Buying, SHIB Price To $0.0001?
Cardano, Shiba Inu, JASMY Price Performance
ADA price jumped over 4% this week. The price is currently trading at $0.459, down nearly 1% in the last 24 hours. The 24-hour low and high are $0.457 and $0.463, respectively. Furthermore, the trading volume has decreased by 17% in the last 24 hours.
SHIB price fell 2% in the last 24 hours, with the price currently trading at $0.00002557. The 24-hour low and high are $0.00002548 and $0.00002627, respectively. The 24-hour trading volume has dipped by 3%.
JASMY price rallied over 56% in a week and 100% in a month. However, the price is trading sideways at $0.03877 after DWF Labs decided to offload some holdings. The 24-hour trading volume has dipped by 60%.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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