Crypto analytics platform Santiment is singling out four top altcoins that are experiencing increased interest from whales.
Santiment’s director of marketing Brian Quinlivan says that the four altcoins are “seeing some major whale activity that could indicate they could have some nice rebounds if and when crypto starts to stabilize again.”
Starting with XRP, Quinlivan says that amid the fifth-largest crypto asset by market cap correcting by over 35% from its 2023 high of approximately $0.938, “whales have just started to become very active once again, and this could very well be the accumulation that has been long awaited.”
XRP is worth $0.49 at time of writing.
Turning to Shiba Inu (SHIB), Santiment’s director of marketing says,
“Shiba Inu is seeing an increased amount of transactions valued at $1 million or more, in particular. As one of the memecoins that was enjoying a heavy rally during the first half of August, it appears that many large wallets are making big transactions as the prices have fallen back down to earth.”
Shiba Inu is trading for $0.00000823 at time of writing.
Next up is the decentralized virtual world The Sandbox (SAND). Quinlivan says that earlier this week on August 14th, the altcoin witnessed a “very notable increase” in transactions valued at over $100,000.
SAND is trading at $0.32 at time of writing.
Santiment’s director of marketing rounds up with the decentralized crypto exchange on the Binance Smart Chain, Pancake Swap (CAKE) which has had a similar experience.
“The asset just saw a two-week high in $100,000+ whale transactions today, and there could be something brewing for everyone’s favorite dessert coin.”
CAKE is worth $1.31 at time of writing.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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