The recent rally in Bitcoin (BTC) and altcoins is pushing some altcoins into the middle of a buying frenzy, and whales are starting to accumulate them before prices rise.
Citing on-chain data, Santiment disclosed three altcoins that witnessed major whale activity. Stating that these altcoins are Cardano (ADA), Shiba Inu (SHIB) and JasmyCoin (JASMY), Santiment stated that this accumulation could be a bullish signal for these three altcoins.
Stating that whale activity in ADA, JASMY and SHIB has more than doubled this week compared to this year's average, Santiment concluded that rich investors like whales have accumulated.
According to Santiment, this accumulation is a bullish signal for the relevant altcoins.
“Cardano, Shiba Inu and Jasmy are all enjoying surges that each appear to have been triggered by a sudden spike in whale interest.
“The amount of transactions over $100,000 on each of these networks more than doubled this week compared to the usual 2024 averages, indicating accumulation.”
At this point, the corporate whale, which earned $ 400 thousand in SHIB investment in the 2021 bull and $ 145 million, started collecting SHIB again.
Accordingly, this institutional investor received 715.8B SHIB in exchange for 4,849 WETH (worth $18.5 million).
*This is not investment advice.