Exploring the latest developments in the world of cryptocurrency, Santiment has highlighted the increased interest of whales in three altcoins, suggesting that a potential rise may be on the horizon.
Before the recent surge in prices, Santiment observed significant accumulation of Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) by wealthy investors known as whales. This activity has sparked speculation that these altcoins could be poised for a bullish trend.
With on-chain data pointing to a surge in whale activity for ADA, JASMY, and SHIB, surpassing the average levels seen in 2024, Santiment believes that these altcoins are attracting attention from major investors. The sudden increase in transactions over $100,000 on these networks further supports the notion of accumulation by whales.
Notably, a prominent institutional investor who previously profited from SHIB investments during the bull market of 2021 has re-entered the market, acquiring a significant amount of SHIB in exchange for WETH. This move underscores the growing interest in altcoins among institutional players.
As these altcoins continue to show positive momentum, it is essential for investors to conduct thorough research and exercise caution when making investment decisions. Stay informed with the latest news and data by following our Telegram and Twitter accounts for exclusive insights.
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