Cardano and Shiba Inu Set for Major Rally? $100K+ Whale Transactions Spike

• Whale transactions in Cardano (ADA) and Shiba Inu (SHIB) are on the rise according to Santiment.
• This could potentially signal the start of a major rally for both altcoins.
• Both Cardano and Shiba Inu have been seeing higher levels of accumulation amongst crypto whales.

Rise in $100,000 Whale Transactions

According to Santiment, a crypto on-chain analytics platform, there has been an increase in whale transactions beyond the $100,000 price range. The last time there were this many ADA transactions at that level was in May, which resulted in its price jumping +36% from the beginning of that week until its local peak in early June.

Cardano’s Growing Whale Count

Cardano has seen tremendous growth this year with its Sidechain Toolkit launch and emergence of its over-collateralized stablecoin DJED priming it for more massive accumulation that may transcend its whale activities.

Shiba Inu Becoming a Favorite Amongst Whales

Whale Stats noted earlier that Shiba Inu ranks among the top three Ethereum-based digital currencies being acquired by whales on the network. This is further backed by Santiment who believes SHIB is becoming a favorite amongst big money spenders as well.

Potential Rally Coming Up?

Historically these coordinated buy ups have often accompanied periods of intense price surges which could be hinting towards a potential rally coming up soon if Cardano’s growing whale count continues to trend upwards. Similarly should Shiba Inu continue gaining traction with whales then it too may mark another unique milestone for the memecoin protocol.

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