Recent data shows whales are accumulating. This data was before BTC dropped more than $2,000. We mentioned on Sunday that US data would trigger volatility today. It happened, and even Gold dropped by 3%. So, which altcoins were whales accumulating before all this happened?
Cardano (ADA)
According to Santiment data, the top altcoin attracting whale interest is ADA Coin. It is still possible to buy ADA below $0.5, and there was a rapid increase in prices today for transactions over $100,000. While whale transactions were stagnant towards the end of May, they increased at the beginning of June, leading to a 5% price rise.
SHIBA Coin Whales
PEPE and SHIB prices sometimes move in sync, and whale activity here may be related to the rise of PEPE Coin. There is also potential for profit sales to turn into PEPE Coin entries. The following graph shows Shiba Inu’s price dropping towards the end of May and whale transactions decreasing.
In June, the situation reversed, and the SHIB price nearly doubled the whale transactions from May 31 to June 6. Although the price increased by 5% during this period, we see an 11% drop as of the time of writing. Whales likely started to flee as BTC’s price fell below $69,000.
JASMY Coin
It was one of the altcoins we’ve been highlighting for a few weeks. Analysts also thought there could be significant price fluctuations. Indeed, after May 31, the price increased by 48% in the new month. The token lingered near its all-time high of $0.0425 recorded on Tuesday.
Bitcoin was above $71,000, with 98.37% of investors waiting profitably. This makes today’s rapid drop following the new data understandable. Already profitable investors can easily sell, anticipating pullbacks where they can buy again at cost. Let’s hope a major nightmare doesn’t start when the ETF data arrives in a few hours.
