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

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 heightened interest from whales. The firm states, “The number of transactions exceeding $100,000 on each of these networks has more than doubled this week compared to the usual averages in 2024, indicating accumulation.”

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

Regarding Bitcoin (BTC), Santiment notes that there is less excitement surrounding the recent price gains of the top cryptocurrency compared to March, which they view as a positive sign. The firm explains, “A $70,000 Bitcoin is not generating the same level of interest among traders as it did three months ago, based on data from social platforms. This lack of FOMO is a promising indication that BTC and other cryptocurrencies can rally without the excessive euphoria that previously led to market tops.”

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