A few cryptocurrencies have seen a surge in whale activity as digital asset prices rise this week, as reported by Santiment, an analytics firm.

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

According to crypto trader Ali Martinez, whales have purchased 200 million Dogecoin (DOGE) since May 30th.

When it comes to Bitcoin (BTC), Santiment suggests that there is less excitement about the cryptocurrency’s price gains compared to March, which they see as a positive sign. The firm believes that the lack of fear of missing out (FOMO) is a good indication that Bitcoin and other coins can continue to rise without the excessive euphoria that led to previous market tops.

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