Shiba Inu (SHIB) and Cardano (ADA) Surge as Whales Make Big Moves
The cryptocurrency market has been experiencing a significant uptick, particularly involving Shiba Inu (SHIB) and Cardano (ADA), with both tokens experiencing substantial growth in large transactions.
According to Santiment reports, this surge is primarily attributed to heightened interest from high-net-worth investors, specifically transactions exceeding $100,000. In the current week, the number of such large transactions for SHIB and ADA has more than doubled compared to the 2024 average.
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The data indicates that the current number of significant ADA transactions stands at 875, and for SHIB, it is 321. However, just the day before, these figures were notably lower, around 455 for Cardano and 81 for Shiba Inu.
An intriguing report that excessive whale activity involving SHIB, with early 2021 investors accumulating over 1.3 trillion Shiba Inu, equivalent to $33.28 million.
It remains to be seen whether this represents substantial accumulation by major players in these digital assets. Currently, both ADA and SHIB prices are experiencing a slight decline with red figures today.
Taking a broader perspective, we can observe that Shiba Inu and Cardano have witnessed price increases of 3.8% and 2.5%, respectively, since the beginning of the week, amid reduced volatility and rapid changes. This trend may suggest active involvement of large investors in acquiring these assets.
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