A few select cryptocurrencies have seen a surge in whale activity as digital asset prices rise this week, as reported by analytics firm Santiment.
Santiment has observed on the social media platform X that Cardano (ADA), Shiba Inu (SHIB), and Jasmy (JASMY) have all experienced price increases in the past few days due to heightened interest from whales. The firm explains that the number of transactions exceeding $100,000 on these networks has more than doubled compared to the usual averages, indicating accumulation.
In addition, crypto trader Ali Martinez highlights that whales have purchased 200 million Dogecoin (DOGE) since May 30th.
Regarding Bitcoin (BTC), Santiment suggests that there is less excitement about the cryptocurrency’s price gains compared to March, which they view as a positive sign. The firm states that the lack of fear of missing out (FOMO) is a good indicator that Bitcoin and other coins can see growth without the excessive euphoria that led to previous market tops.
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