Cardano, Shiba Inu, and JasmyCoin see substantial whale accumulation, with $100k+ transactions more than doubling this week compared to the 2024 average.
Following the recent market recovery, certain altcoins have attracted buyers, with wealthy investors starting to accumulate these assets in anticipation of potential price surges.
Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) are experiencing notable price increases, seemingly driven by heightened whale activity.
Whales Accumulate
This week, transactions surpassing $100k on these networks have more than doubled compared to their average figures for 2024, indicating a significant accumulation phase.
Santiment’s latest analysis reveals that the surge in large transactions signals increased interest from large-scale investors, fueling the upward momentum in prices for these cryptocurrencies.
This development occurs amidst a heightened accumulation of specific digital assets. As investors step up their purchases, demand rises, typically prompting a price increase.Despite Cardano’s price being stagnant below $0.46, it has witnessed a surge in whale accumulation.
Similarly, the popular meme coin Shiba Inu is experiencing a vigorous accumulation spree. On June 5th, a single whale purchased 715.9 billion SHIB tokens within a span of just six hours.
Shortly after, Lookonchain identified another notable whale activity, this time involving 9 wallets. Two of these wallets, identified as whales, collectively spent over $35 million to acquire a massive 1.356 trillion SHIB tokens.
Apple Incident Sparks Rally in JASMY
Meanwhile, JasmyCoin emerged as one of the top-performing cryptocurrencies last week, spurred by a misinterpreted announcement from Apple.
When Apple announced its intention to integrate Japan’s My Number feature into its iPhones, investors mistakenly believed that JasmyCoin was involved in this endeavor.
However, the truth is that JasmyCoin is an Ethereum-based ERC-20 token that prioritizes privacy and data security features. This misunderstanding caused a surge in JasmyCoin’s price, pushing it above $0.038 and leading to weekly gains of over 50%.
To have the best trading experience with us, open an account at Longhorn
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
