Shiba

Cardano

Burn

JasmyCoin

Shiba Inu

The recent recovery in the <a href="https://coingape.com/crypto-prices-today-june-6-bitcoin-near-71k-ethereum-approaches-3900-atcoins-flux/" target="_blank" rel="noopener noreferrer nofollow">crypto market</a> brings some altcoins in the buying range, with whales even starting to accumulate these before prices rally. On-chain data pointed out three altcoins witnessing massive whale activity — Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). Are these three trending cryptocurrencies in an early bullish phase?
<h2 id="ada-shib-jasmy-record-massive-whale-activity">ADA, SHIB, JASMY Record Massive Whale Activity</h2>
Whale interest in Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) has surged in the last few days, reported on-chain data platform Santiment on June 6. This indicates whales have returned to accumulate these coins after a lull.
The amount of $100K+ transactions on Cardano, Shiba Inu, and <a href="https://coingape.com/blog/will-jasmycoin-price-hit-1-in-2024/" target="_blank" rel="noopener noreferrer nofollow">JasmyCoin</a> networks have more than doubled this week as compared to the 2024 averages, signaling sudden massive accumulation by whales. Massive accumulation by whales is considered a buy signal as whales tend to buy low and sell high.
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GPV_BnQaUAA3uO2?format=jpg&amp;name=4096x4096" alt="Image" width="816" height="543">
<blockquote>
 “Cadano, Shiba Inu, and Jasmy are all enjoying surges, each appearing to be triggered after a spike in whale interest.”
</blockquote>
Cardano whales have gradually added ADA to their holdings since April. Cardano whales holding between 100 million and 1 billion ADA accumulated 11% to their wallet, as per IntoTheBlock. This group of whales now holds 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) accumulated 37 billion SHIB from Binance.
<img decoding="async" class="aligncenter wp-image-200816" src="https://coingape.com/wp-content/uploads/2024/06/screenshot-pro.twitter.com-2024.06.06-12_44_09-1224x96.jpg" alt="shiba inu" width="806" height="63" srcset="https://coingape.com/wp-content/uploads/2024/06/screenshot-pro.twitter.com-2024.06.06-12_44_09-1224x96.jpg 1224w, https://coingape.com/wp-content/uploads/2024/06/screenshot-pro.twitter.com-2024.06.06-12_44_09-300x23.jpg 300w, https://coingape.com/wp-content/uploads/2024/06/screenshot-pro.twitter.com-2024.06.06-12_44_09-768x60.jpg 768w, https://coingape.com/wp-content/uploads/2024/06/screenshot-pro.twitter.com-2024.06.06-12_44_09-150x12.jpg 150w, https://coingape.com/wp-content/uploads/2024/06/screenshot-pro.twitter.com-2024.06.06-12_44_09.jpg 1443w" sizes="(max-width: 806px) 100vw, 806px">
JASMY continues to witness massive buying from whales and retail investors. However, profit booking has also unusual during buying.
Also Read: <a href="https://coingape.com/shiba-inu-burn-rate-shoots-3900-amid-whale-buying-shib-price-to-0-0001/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Burn Rate Shoots 3900% Amid Whale Buying, SHIB Price To $0.0001?</a>
<h2 id="cardano-shiba-inu-jasmy-price-performance">Cardano, Shiba Inu, JASMY Price Performance</h2>
<a href="https://coingape.com/price/cardano" target="_blank" rel="noopener noreferrer nofollow">ADA price</a> jumped over 4% this week. The price is currently trading at $0.459, down nearly 1% in the last 24 hours. The 24-hour low and high are $0.457 and $0.463, respectively. Furthermore, the trading volume has decreased by 17% in the last 24 hours.
<a href="https://coingape.com/price/shiba-inu" target="_blank" rel="noopener noreferrer nofollow">SHIB price</a> fell 2% in the last 24 hours, with the price currently trading at $0.00002557. The 24-hour low and high are $0.00002548 and $0.00002627, respectively. The 24-hour trading volume has dipped by 3%.
<a href="https://coingape.com/price/jasmycoin/" target="_blank" rel="noopener noreferrer nofollow">JASMY price</a> rallied over 56% in a week and 100% in a month. However, the price is trading sideways at $0.03877 after DWF Labs decided to offload some holdings. The 24-hour trading volume has dipped by 60%.
Also Read:
<ul>
 <li><a title="Terra Luna Classic Set To Implement Tax2Gas and End LUNC Burn Tax?" href="https://coingape.com/terra-luna-classic-set-to-implement-tax2gas-and-end-lunc-burn-tax/" target="_blank" rel="noopener noreferrer nofollow">Terra Luna Classic Set To Implement Tax2Gas and End LUNC Burn Tax?</a></li>
 <li><a title="XRP Lawsuit: Ripple To Knock Appeals Court Door Against US SEC" href="https://coingape.com/ripple-vs-sec-news-xrp-lawsuit-to-see-appeals-in-second-circuit-court-next/" target="_blank" rel="noopener noreferrer nofollow">XRP Lawsuit: Ripple To Knock Appeals Court Door Against US SEC</a></li>
 <li><a href="https://coingape.com/bitcoin-analyst-who-predicted-btc-hit-350k-betting-these-two-cryptos-now/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin News: Analyst Who Predicted BTC To Hit $350K Is Betting On These Two Cryptos Now</a></li>
</ul>
The post <a href="https://coingape.com/cardano-shiba-inu-jasmy-grabs-interest-of-big-whales-trigger-buy-signal/" rel="noopener noreferrer nofollow">Cardano, Shiba Inu, Jasmy Grabs Interest Of Big Whales, Trigger Buy Signal</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Cardano, Shiba Inu, Jasmy Grabs Interest Of Big Whales, Trigger Buy Signal

Table of Contents

Coingape News Media

Other articles published on Jun 6, 2024

Stacks Price Breaks Out From Long-Term Resistance: What’s Next?

Will Bitcoin ETFs Soar on Sooner-Than-Expected Fed Rate Cut?

Ethereum ETF Approval Sparks Altcoin Frenzy, Meme Coin Mania: What Investors Need To Know

Bitcoin’s Advent to $100K: Understanding Scenarios of ‘Brief Shakeout’ Before ‘Big Breakout’

BlockDAG's Moonshot Keynote Sparks 1000% Surge, Surpassing SEI And Solana Trends

GME skyrockets in anticipation of Roaring Kitty’s first YouTube livestream in 3 years

Join our free newsletter for daily crypto updates!