Cardano’s ADA token surged over 10% in the past 24 hours, reaching its highest point since July 23, and becoming the week’s top performer among major cryptocurrencies, outperforming even Bitcoin. The rally was driven by increased whale activity and high network usage, but indicators suggest some profit-taking may be occurring.
The AI-generated meme coin GOAT has experienced a remarkable rebound, with whale activity driving its price up over 200% after an early morning dip. Investors are bullish on the coin’s future, seeing it as a potential long-term play.
Bitcoin’s price soared above $67,000 on Tuesday, bucking the trend of a sharp decline in stock prices. While the cryptocurrency market saw an influx of fresh money, analysts pointed to a correlation between Bitcoin’s rise and large whale activity, highlighting the potential influence of these major players.
Shiba Inu (SHIB), often referred to as the “Dogecoin Killer,” has experienced a significant 26% weekly surge, fueled by notable whale activity. A large transaction involving 237.87 billion SHIB by an anonymous whale address suggests either an over-the-counter purchase or a redistribution of cryptocurrency holdings. This activity coincides with the announcement of a $12 million investment for the development of Shiba Inu’s new Layer 3 network, prioritizing security and privacy. Additionally, the burning of 411.9 million SHIB coins within the past week contributes to the positive sentiment surrounding the meme coin.
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