3 Altcoins Targeted by Crypto Whales for Potential Profits This Week
On-chain data reveals, this week crypto whales increasedly bought up three altcoins: ADA, SHIB, and JASMY. When compared to the 2024 average, a significant spike in the number of transactions exceeding US$100,000 was recorded.
Holder Cardano Accumulated ADA Below US$0.5
Santiment data reveals a surge in transactions above US$100,000 on the Cardano network (#ADA )as crypto whales flock to buy ADA below US$0.5. The chart presented below shows a lull in transactions leading up to the close of May. It was recorded that around 5 transactions took place before the numbers soared in June. As a result, ADA prices have pushed up up to 6% since May 31.
SHIB is back in the spotlight
Among the crypto whales are also starting to look at Shiba Inu ( #shiba⚡ ), possibly driven by the potential for a large increase in the price of Pepe which has just reached an all-time high (ATH). Given that SHIB and PEPE have a history of parallel price movements, investors' attention is now turning to SHIB after Pepe peaked.
The following chart shows the decline in Shiba Inu prices in late May, accompanied by a decrease in transaction activity above US$100,000.
JASMY Price Surge 48%
In a different corner, a spike in mentions of #JASMY on social media was recorded this week. This is because analysts speculate about significant price movements of JasmyCoin. No wonder, this token has managed to shoot up 48% since May 31. Interestingly, technical indicators show the potential for continued increases.
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