Crypto Whales Are Buying These 3 Tokens: Cardano, Shiba Inu, and JasmyCoin

• Whale transactions for ADA, SHIB, and JASMY more than doubled in one week, signaling substantial accumulation.
• SHIB sees the highest trading volume increase among peers, with a 3900% surge in token burning.
• JASMY price spiked 58% this week, hitting a yearly high, with 80% of holders profiting.

Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) are surging, each apparently triggered by a spike in whale interest. Large transactions exceeding $100,000 on each network have more than doubled this week compared to the 2024 average, suggesting accumulation.

Cardano (ADA) Witnesses Moderate Gains

Following the uptick in whale transactions, Cardano’s price increased by approximately 2.58% in the last week. Despite the price increase, most ADA holders are experiencing losses, with a significant number still holding out for recovery. In the past 24 hours, bears have dominated the ADA market after bulls failed to breach the resistance at $0.4638, prompting a correction to an intra-day low of $0.4578 as of press time.

ADA/USD 24-hour price chart (source: CoinMarketCap)

The 24-hour price chart for ADA/USD from CoinMarketCap shows a decline in ADA’s market capitalization and 24-hour trading volume by 1.24% and 16.46%, respectively, to $16,348,809,783 and $274,464,472. If this adverse trend persists and the support level is not held, the next support levels to watch are around $0.45 and $0.44. However, a reversal in the trend could occur if bulls manage to push the price above the resistance level at $0.4638, potentially leading to a recovery in ADA’s market performance.

Despite this, the Cardano Foundation’s recent partnership with Argentina’s Entre Ríos province has strengthened its presence in South America. This collaboration aims to drive blockchain adoption, potentially boosting ADA’s price and triggering a bullish trend reversal.

Shiba Inu (SHIB) Rallies Amid High Trading Volume

Shiba Inu (SHIB) has seen a 1% price increase in the last 24 hours, bringing its trading price to $0.00002572 as of press time. This meme coin has recorded the highest trading volume among the three, with a 9% increase in the last 24 hours, reaching $768,993,413. Its market capitalization also surged by 0.19% to $15,153,166,617, reflecting increasing market confidence.

SHIB/USD 24-hour price chart (source: CoinMarketCap)

The 24-hour price chart for SHIB/USD from CoinMarketCap shows that during the rally, SHIB’s price fluctuated between an intra-day high of $0.00002627 and a low of $0.00002548. If the bullish momentum continues and the $0.00002627 resistance is breached, potential resistance levels lie at $0.000027 and $0.000028. However, if the price fails to break through, support levels at $0.000025 and $0.000024 could come into play.

Additionally, the surge in Shiba Inu’s price is accompanied by a major rise in token-burning activities, which increased by nearly 3,900% on Thursday. This dramatic reduction in supply, combined with extensive whale purchasing, suggests a potential upward trend in SHIB’s near-term price trajectory.

JasmyCoin (JASMY) Enjoys the Largest Uptick

JasmyCoin (JASMY) has outperformed both Cardano and Shiba Inu, with a 58% increase in its price this week, recording a yearly high of $0.04182. However, in the last day, the market has been in a correction, with prices fluctuating between an intra-day high of $0.03976 and a low of $0.03745.

JASMY was trading at $0.03918 at press time, a 0.94% decline from its 24-hour high. Amid this price dip, JASMY’s market capitalization and 24-hour trading volume declined by 0.58% and 59.17%, respectively, to $1,931,289,144 and $202,287,599.

JASMY/USD 1-day price chart (source: CoinMarketCap)

Despite this, nearly 80% of JASMY holders are ‘in the money,’ indicating that the current price is higher than the average purchase price of the asset. Data from IntoTheBlock highlights this positive return on investment for most holders, reflecting growing confidence among investors in JasmyCoin’s market potential.