Shiba Inu & Cardano: Attracting Whale Attention
Recent data from Santiment has highlighted the increased activity of whales in altcoins like Shiba Inu (SHIB) and Cardano (ADA). Whales refer to entities holding large amounts of crypto, capable of making significant transactions worth $100,000 or more. The Whale Transaction Count indicator tracks these large transactions on a cryptocurrency network.
High values on this indicator suggest active participation from whales, indicating strong interest from these major investors in trading the coin. Conversely, low values could mean that whales are less engaged with the asset at the moment.
Whale Transaction Count Trends
Santiment’s data reveals a trend in Whale Transaction Count for Shiba Inu, Cardano, and JasmyCoin (JASMY). While the indicator does not specify the nature of these transactions as buying or selling, the recent price appreciation of these coins suggests a possible accumulation pattern.
- Whale Transaction Count indicates whale activity
- High values suggest active interest
- Low values imply reduced attention from whales
The analytics firm notes a significant increase in $100K+ transactions on these networks, signaling accumulation as the possible aim behind these whale activities. This uptick in whale interest could lead to price fluctuations in the near future for these altcoins.
SHIB Price Movement
Among the altcoins under scrutiny, JasmyCoin has experienced notable gains driven by heightened whale interest. However, Shiba Inu has seen a comparatively modest increase. Following the recent surge, the price of SHIB has managed to reclaim $0.00002570.
- Whale activity impacting price movements
- JasmyCoin outperforms SHIB in price appreciation
- SHIB price rises to $0.00002570
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