Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) prices are likely to rally due to a massive increase in whale activity.
The recent recovery in the crypto market has brought some altcoins into the buying range, even before the whales start collecting them before the price rises.
On-chain data identified three altcoins seeing massive whale activity — Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). Are these three trending cryptocurrencies in an early bullish phase?
ADA, SHIB, JASMY recorded massive whale activity
Whale interest in Cardano (ADA), Shiba Inu (SHIB) and JasmyCoin (JASMY) has surged over the past few days, as reported by on-chain data platform Santiment on June 6. .
The amount of $100K+ transactions on the Cardano, Shiba Inu, and JasmyCoin networks more than doubled this week compared to the 2024 average, indicating a sudden mass accumulation by the whale. A large rally by whales is considered a buy signal because whales tend to buy low and sell high.
Cardano Whale has gradually added ADA to its holdings since April. According to IntoTheBlock, a Cardano whale holding between 100 million and 1 billion ADA collected 11% of its wallet. This group of whales now accounts for 6.71% of the entire ADA supply.
Lookonchain revealed that 9 wallets spent $35.2 million to buy 1.356 trillion SHIB. Today, a whale (0xa14) collected 37 billion SHIB from Binance.
JASMY is witnessing massive buying from whales and retail investors. However, booking profits during buybacks is also unusual.
Cardano, Shiba Inu, Jasmy Price Performance
ADA prices rose more than 4 percent this week. The price is currently trading at $0.459, down about 1% in the last 24 hours. The 24-hour low and high are $0.457 and $0.463, respectively. Additionally, trading volume has decreased by 17% in the last 24 hours.
SHIB price fell 2% in the last 24 hours, the price is currently trading at $0.00002557. The 24-hour low and high are $0.00002548 and $0.00002627, respectively. 24-hour trading volume fell by 3 percent.
JASMY price increased by 56% in one week and more than 100% in one month. However, the price is trading at $0.03877 after DWF Labs decided to offload some holdings. 24-hour trading volume has fallen by 60%.