Recent whale activity in the cryptocurrency market has drawn attention to Shiba Inu and Cardano tokens, leading to noticeable price changes.
Impact of Whales on Shiba Inu
Recent purchases by whale investors of 10.4 trillion Shiba Inu tokens, worth about $110 million, have led to a 17% price increase. This occurred after reaching a 16-month low, with the token currently trading around $0.00001162. Analysts suggest that breaking the resistance level of $0.00001175 could lead to further price increases.
Current Situation with Cardano
Cardano is experiencing a bearish trend, having fallen below a key support level at $0.576, currently trading at around $0.5679. Analysts emphasize the importance of regaining momentum above $0.62 for a potential bullish reversal. Meanwhile, crypto influencer Altcoin Daily discussed promising developments related to Cardano's Plomin update.
Role of Exchanges in Promoting SHIB and ADA
Centralized trading platforms like Revolut and Changelly are simplifying the trading process for retail investors, fostering greater market participation, and enabling quicker responses to significant market movements.
Whale activity and exchanges play a significant role in the cryptocurrency market dynamics that are crucial for both investors and analysts.
