While the volatility experienced in Bitcoin (BTC) also affects altcoins, the altcoin market also suffers heavy losses.
While investors trying to withstand the harsh corrections after the ATH in March were expecting a rise, a positive analysis came from Santiment for three popular altcoins.
Evaluating the whale wallets on the exchanges, Santiment said that the supply of Shiba Inu (SHIB), Chainlink (LINK) and Ethereum (ETH) held by the top 10 whale wallets on the cryptocurrency exchanges has decreased significantly since May 27.
These reductions were 2.4% for SHIB; It was 2.9% for LINK and 8.6% for ETH.
Evaluating this situation as a long-term investment strategy and bullish signal for the popular memecoin SHIB, KINK and ETH, Santiment pointed out that this trend shows that SHIB, LINK and ETH whales prefer to HODL rather than endure losses.
Santiment added that these decreases for SHIB, LINK and ETH should be considered as a good sign for investors expecting an increase.
🐳 The top 10 exchange wallets on the #ShibaInu, #Chainlink, and #Ethereum networks, respectively. Since May 27th, their holdings have shrunk by:
📉 $SHIB: -2.4%
📉 $LINK: -2.9%
📉 $ETH: -8.6%Decreasing exchange supplies should be considered a good sign for bullish traders. 👍 pic.twitter.com/MbrSKaFF8s
— Santiment (@santimentfeed) June 13, 2024
*This is not investment advice.
