There has been a spike in activity from large wallet investors – popularly known as whales – affecting several altcoins, particularly Shiba Inu (SHIB)
, Sandbox , XRP and Pancake Swap , according to data from crypto intelligence tracker Santiment. These recent moves occur at a time when most of these assets are seeing significant price declines. Large wallet investor activity during a dip is considered bullish for crypto assets in the long term.
Analysts at Santiment argue that major whale activity indicates there are likely rebounds if crypto prices stabilize again. Analysts state that In the current market cycle, large wallet investors are less likely to offload their holdings when prices decline between 20% and 30%.Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money.
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