The popular memecoin Shiba Inu ( SHIB ) and the smart contract platform Cardano ( ADA ) are seeing major spikes in large whale transactions, according to the crypto analytics firm Santiment.
Both altcoins, as well as the controversial crypto asset HEX, are witnessing a surge in transactions worth more than $100,000.

According to Santiment, significant bursts of large transactions are “historically is associated with upcoming price shifts.”
Source: Santiment
Santiment says Cardano’s whale action in particular has been on the rise all year.
The last time a similar spike happened for Cardano, the firm says a big rise in price followed.
“Cardano whale numbers have risen in 2023, and large transactions have notably broken out.
The last time there were this many $100,000 ADA transactions was in May, and its price jumped +36% from the beginning of that week until its local top in early June.”
Source: Santiment
Whales have also been steadily accumulating SHIB in 2023.
According to WhaleStats, SHIB is now the second-largest altcoin holding among Ethereum whales, right behind the stablecoin Tether (USDT).
The 5,000 biggest Ethereum (ETH) whales in existence now collecively hold a staggering 50,905,707,716,073 SHIB worth $735,034,573.
SHIB is worth $0.00001426 at time of publishing, down 1.2% in the last 24-hours.
Meanwhile, ADA is at $0.39, up 1.4% in the last day.
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The post Shiba Inu and Cardano Witnessing Massive Spike in $100,000+ Whale Transactions, Says Crypto Analytics Firm appeared first on The Daily Hodl .