Major Whales Bag Cardano, SHIB, and JASMY, Indicating a Buy Signal

With Bitcoin sitting above $70,000, the crypto market has a more positive outlook. Investors have begun diversifying their portfolios, anticipating big moves.Top whales have entered an accumulation spree, hoping to fill their bags with potential gems before the next rally.

On-chain data reveals that Shiba Inu, Cardano, and Jasmy Coin are recording massive whale movements. With these tokens now on whales' radar, market participants wonder whether their bull run has begun.

ADA, JASMY, and SHIB Witness Massive Whale Accumulation Phase

According to a June 6 Santiment report, whales seem to have taken a keen interest in Cardano, JASMY, and Shiba Inu, resulting in a remarkable surge for the tokens. Transactions exceeding $100,000 on each network have doubled in the past week, surpassing 2024 averages. This trend suggests an ongoing whale accumulation.

Additionally, Cardano whales have added more ADA tokens to their portfolios since April. Notably, the Cardano whales, which hold between 100 million and 1 billion ADA, added 11% more to their wallets. This group of whales now holds 6.71% of the total ADA supply.

Also, data from Lookonchain revealed that nine wallets spent around $35.2 million to purchase 1.356 trillion SHIB. Again, earlier today, a whale purchased 37 billion SHIB from Binance.

Similarly, JASMY continues to record massive buying activity from the whales and retailer traders.

Cardano, Shiba Inu, and Jasmy Coin Price Action

This accumulation frenzy is also a buy signal since the whales always seem to buy low and sell high. ADA, JASMY, and SHIB have recorded significant upticks in the past week in response to the heightened buy pressure.

ADA has gained almost 3% in the past week, with limited gains in the past 24 hours. ADA still trades around the $0.46 price range and will likely break above $0.5 if the whales continue their accumulation spree.

Although ADA does not show massive price gains, the accumulation will likely lead to a rally and a price increase in the coming weeks. Also, ADA's price has declined by 17% in the last 24 hours. Nevertheless, the buyers will likely re-enter the market in the coming days to force a rally for ADA.

Similarly, Shiba Inu has also experienced a price decline in the past 24 hours. SHIB's price trades $0.00002574, down 2.7%in the past week. However, SHIB's decline is likely just a temporary retracement in the current cycle, and the meme coin could rebound based on the ongoing accumulation phase.

While SHIB remains far below its all-time high, it has recorded impressive price movement in 2024.

Meanwhile, JasmyCoin (JASMY) s price is $0.0388, up nearly 7% in the last 24 hours. However, JASMY has gained over 35% in the past week, confirming ongoing bullish sentiment. Its price has also surged over 106% in the past 30 days.

Therefore, based on ongoing market movement, ADA, SHIB, and JASMY appear poised for a massive rally. So, investors are bagging more coins ahead of the next rally, hoping to profit from a price increase.

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