Altcoins
The best Altcoins attracting whales: a major bullish rise expected
The altcoin industry has gradually gained bullish momentum as The price of Bitcoin (BTC) has struggled to invest beyond $72,000 over the past four months. Binance’s native coin BNB led the altcoin industry in bullish sentiment after hitting a new all-time high (ATH) above $700.
Renewed interest in Bitcoin from institutional investors, illustrated by high liquidity inflows to the US-based spot BTC ETFhas significantly helped improve the liquidity of altcoins.
Additionally, more and more global investors have confidence in the longevity of the crypto sector beyond the ongoing bull market.
According to on-chain data analysis provided by Santiment, whale activity in Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) more than doubled this week compared to this year’s average. Specifically, on-chain transactions exceeding $100,000 on the above networks saw a sharp rise this week, signaling increased accumulation.
Cardano (ADA) Price Action
Since the bullish breakout of Cardano Price Last year, the large-cap altcoin, with a fully diluted valuation of around $20 billion, consolidated into a megaphone structure year-to-date.
After establishing a strong support level above 43 cents and the weekly moving average (MA) of 50, ADA price against the US Dollar is on the cusp of a major bullish uproar.
Shiba Inu Price Action
Amid the current coin frenzy, Shiba Inu Price attempted to mirror Pepe (PEPE) and Floki Inu (FLOKI) in the frog theme. The large-cap meme coin, with a fully diluted valuation of around $25 billion, signaled an inevitable bullish surge after establishing a support level around $0.00021, which coincides with the weekly Fibonacci retracement of 0.618 .
JamsmyCoin (JASMY)
The mid-cap altcoin, with a market capitalization of around $1.8 billion and an average daily trading volume of around $211 million, has been rising year-to-date. From a technical perspective, JASMY price against the US Dollar is trying to enter a bullish phase as the weekly Relative Strength Index (RSI) is hovering around 68 points.
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