💥💥💥 #shibaInu (SHIB) and #cardano Explode With #whale 🐳🐳🐳 Activity

Recent movements in the cryptocurrency market have drawn attention to Shiba Inu (SHIB) and Cardano (ADA), with both tokens experiencing notable increases in large-scale transactions. Santiment reports suggest that this surge is primarily fueled by heightened interest from whale investors, characterized by transactions exceeding $100,000.

This week, the number of such substantial transactions for SHIB and ADA has more than doubled compared to the average for 2024.

According to a chart accompanying the report, the current count for such significant transactions stands at 875 for ADA and 321 for SHIB. However, just the day before, these figures were considerably lower, hovering around 455 for Cardano and 81 for Shiba Inu.

In a noteworthy development, U.Today highlighted intriguing whale activity concerning SHIB, reporting that early investors from 2021 have recently accumulated over 1.3 trillion Shiba Inu, equivalent to $33.28 million.

The true nature of this accumulation by major players in these digital assets remains uncertain. Presently, both $ADA and $SHIB prices are experiencing a slight downturn, with both tokens trading in the red today.

Nevertheless, a broader perspective reveals that since the beginning of the week, over the last three days, the price of Shiba Inu and Cardano has seen modest gains of 3.8% and 2.5%, respectively, amidst relatively low volatility and rapid fluctuations. This observation could indicate the presence of whales actively accumulating positions on the buying side.

Source - u.today