Altcoins
Top Altcoins Attracting Whales: Big Bullish Recovery Expected
Altcoins are coming into the spotlight Bitcoin, the king cryptocurrency, is struggling with stagnant prices, hovering around $72,000 for the past four months. But while Bitcoin stumbles, altcoins rise. Leading this charge is Binance’s native coin, BNB, which is reaching new heights above $700.
This momentum is not isolated: a wave of bullish sentiment is spreading across the altcoin market.
Could this be the start of an epic altcoin rally? Read on to find out the best altcoins whales are accumulating and why you shouldn’t miss out on this potential opportunity.
Bitcoin – Resist Altcoins?
As Bitcoin struggles with its price, renewed interest from institutional investors has inadvertently strengthened the altcoin market. In particular, cash flow into the US-based BTC spot ETF is injecting liquidity and optimism into altcoins, highlighting growing confidence in the cryptocurrency sector’s resilience beyond the current bull cycle.
Santiment’s in-depth analysis of on-chain data reveals a significant increase in whale activity for major altcoins such as Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) this week. Transactions above $100,000 on these networks have seen a surge, suggesting increased accumulation and investor interest.
Altcoins are set to rise!
Cardano (ADA): Building momentum
Cardano has steadily consolidated itself within a megaphone structure since its success last year, demonstrating resilience amid market fluctuations. With a fully diluted valuation of around $20 billion, ADA has found stability above 43 cents and the weekly moving average (MA) at 50, positioning itself for potential bullish turns against the US dollar.
Shiba Inu (SHIB): Are you still riding the Memecoin wave?
In the midst of the meme coin frenzy, Shiba Inu has emerged as a prominent player, seeking to replicate the success of other meme tokens such as Pepe (PEPE) and Floki Inu (FLOKI). With a fully diluted valuation of around $25 billion, SHIB showed signs of an impending bullish surge, finding support around $0.00021, a level that aligns with the weekly Fibonacci retracement of 0.618.
JasmyCoin (JASMY): A rising star
JasmyCoin has steadily climbed the charts since the beginning of the year, with a market capitalization of approximately $1.8 billion and an average daily traded volume of $211 million. Technically, the price of JASMY against the US dollar is poised for a bullish phase, as indicated by the weekly Relative Strength Index (RSI) hovering around 68 points, reflecting growing investor confidence and the potential for further upside.
Also check: Ethereum ETFs Face Major Delays: SEC’s Gensler Reveals Crucial Details
Are you thinking of investing in altcoins? Make sure you do your research before taking the plunge.