Whale Alert: Huge Transactions Flow into These Altcoins; Can They Break Above the Accumulation?
The post Whale Alert: Huge Transactions Flow into These Altcoins; Can They Break Above the Accumulation? appeared first on Coinpedia Fintech News
The crypto markets have been displaying significant strength since the start of the year. Meanwhile, the bears have also demonstrated their involvement as the markets consolidated after Bitcoin failed to achieve certain levels. While the markets appeared to be under bearish influence, whales considered it as a good opportunity to accumulate. In recent times, whale activity over some of the platforms has intensified.
Memecoins have gained more attention in the past few months and as a result, many primitive tokens have entered and displayed a magnificent price action. However, the popular ones like Dogecoin & Shiba Inu continued to display minor variations. Besides, the third-generation crypto, Cardano, did not foresee any major impact as the levels remained consolidated below $0.5. Therefore, this may have appeared as a great opportunity to accumulate, as whales have begun to do so.
As per the data from Santiment, a huge rise in whale transactions has been witnessed in Cardano, Shiba Inu, and JasmyCoin. The JASMY price has gained huge traction in recent times, which could be a possible reason for the interest. All three platforms have witnessed a steep rise in huge transactions of over 100,000, which has comparatively doubled this week. This suggests the whales are heavily accumulating, speculating that a fine bullish move may soon begin in the latter part of the year.
The ADA price has been consolidating very hard within a very narrow range as the volatility and volume have slashed drastically. Besides, JASMY’s price is strongly ascending towards the upper targets and SHIB’s price has been gaining some strength. Hence, a notable rise in their value may be expected in the coming days, as the whales have flashed a huge bullish signal for these altcoins.
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