Massive Whale Activity for Injective (INJ), Shiba Inu (SHIB), and These Altcoins
- Barbara StreisandOriginal
- 2024-10-01 15:14:12857browse
According to data from Santiment, whale activity has surged for several major cryptos. Among the top tokens seeing increased whale transactions are Injective (INJ), Shiba Inu (SHIB), and others.
Several major cryptos are seeing a surge in whale activity, according to data from Santiment.
Among the top tokens seeing increased whale transactions are Injective (INJ), Shiba Inu (SHIB), and others. Notably, this increase coincides with the historically positive October crypto market, which is fueling expectations of possible price increases.
Santiment's tweet highlights rises in whale activity for projects with market caps of over $2 billion. The most dramatic increase was seen by Injective (INJ), which recorded a 456% rise in large-scale transactions.
? Among cryptocurrencies with at least a $2B in market cap, these are the projects seeing the highest rises in whale activity compared to the week prior:
1) @injective $INJ ? 456% Rise
2) @wrappedbtc $WBTC ? 421% Rise
3) @shibainucoin $SHIB ? 360% Rise
4) @makerdao $DAI… pic.twitter.com/wagNpAgXEK
Other tokens like Wrapped Bitcoin (WBTC) and Shiba Inu (SHIB) also saw spikes of 421% and 360%, respectively. This surge suggests a growing interest from large investors as market participants eye potential price growth in October.
Also having notable whale activity were tokens such as MakerDAO (DAI), Pepe (PEPE), and Dogecoin (DOGE), reflecting a broader trend in the crypto market as investors anticipate bullish movements.
Despite these developments, the prices of these tokens have shown mixed trends.
Several tokens are seeing price fluctuations amid increased whale activity. According to CoinGecko, Injective (INJ) saw a 7.94% price rise in the last day, trading at $24.57; during the last week, it increased by 9.96%.
Shiba Inu (SHIB), on the other hand, had a strong overall performance with a 26.10% increase over the past week, despite a 2.04% decline in the last day.
Price corrections for Dogecoin (DOGE) and Optimism (OP) were also minimal, with DOGE dropping 3.55% in the past 24 hours and OP showing a slight 0.07% decrease. Despite these minor declines, both tokens remained up by 9.09% and 9.00%, respectively over the last week.
October is typically considered a good month for cryptocurrencies, and the increase in whale activity could be an early indicator of a possible market surge. Big investors buying up tokens like INJ, SHIB, and DOGE indicate increasing market confidence in the uptrend.
While recent price movements have been mixed, the rising whale transactions highlight the potential for strong future performance.
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