A small number of cryptocurrencies have experienced a surge in whale activity as digital asset prices rise, as reported by Santiment, an analytics firm.

Santiment observed on the social media platform X that Cardano (ADA), Shiba Inu (SHIB), and Jasmy (JASMY) have all seen significant price increases in the past few days due to increased interest from whales. The firm stated, “The number of transactions over $100,000 on these networks has more than doubled this week compared to the usual averages in 2024, indicating accumulation.”

Crypto trader Ali Martinez also mentioned that whales have purchased 200 million Dogecoin (DOGE) since May 30th.

Regarding Bitcoin (BTC), Santiment mentioned that there is not as much excitement about the recent price gains compared to March, which they see as a positive sign. The firm stated, “A $70,000 Bitcoin is not as significant for traders as it was three months ago, based on social platform data. The lack of FOMO is a positive indicator that BTC and other cryptocurrencies can see growth without the excessive euphoria that led to previous market tops.”

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