Altcoins are stepping into the spotlight as Bitcoin, the king cryptocurrency, grapples with stagnant prices, hovering around $72k for the past four months. But while Bitcoin stumbles, altcoins are surging. Leading this charge is Binance’s native coin, BNB, soaring to new heights above $700.
This momentum isn’t isolated – a wave of bullish sentiment is sweeping across the altcoin market.
Could this be the start of an epic altcoin rally? Read on to discover the top altcoins that whales are accumulating and why you shouldn’t miss out on the potential opportunity.
While Bitcoin wrestles with its price, renewed interest from institutional investors has inadvertently boosted the altcoin market. Notably, cash flowing into the United States-based spot BTC ETF is injecting liquidity and optimism into altcoins, highlighting growing confidence in the crypto industry’s resilience beyond the current bull cycle.
Insightful on-chain data analysis by Santiment reveals a significant surge in whale activity for major altcoins like Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) this week. Transactions exceeding $100k on these networks have spiked, suggesting increased accumulation and investor interest.
Cardano has been steadily consolidating within a megaphone structure since its breakout last year, demonstrating resilience amidst market fluctuations. With a fully diluted valuation of approximately $20 billion, ADA has found stability above 43 cents and the 50 weekly Moving Average (MA), positioning itself for potential bullish breakthroughs against the US dollar.
In the midst of the meme coin frenzy, Shiba Inu has emerged as a prominent player, seeking to replicate the success of fellow meme tokens like Pepe (PEPE) and Floki Inu (FLOKI). With a fully diluted valuation of around $25 billion, SHIB has shown signs of an impending bullish surge, finding support around $0.00021, a level that aligns with the weekly 0.618 Fibonacci Retracement.
JasmyCoin has steadily climbed the ranks since the year began, with a market cap of approximately $1.8 billion and a daily average traded volume of $211 million. Technically, JASMY’s price 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 potential for further upside.
Also Check Out : Ethereum ETFs Face Major Delays: SEC’s Gensler Reveals Crucial Details
Thinking about investing in altcoins? Make sure you do your own research before taking the plunge.
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