Cryptocurrency Analysis: Shiba Inu, Chainlink, and Ethereum Show Positive Signs Amid Market Volatility
According to Santiment, the supply of Shiba Inu (SHIB), Chainlink (LINK), and Ethereum (ETH) held by the top 10 whale wallets on cryptocurrency exchanges has significantly decreased since May 27.
Despite the volatility in Bitcoin affecting altcoins, the altcoin market has been experiencing heavy losses. Investors, hoping for a recovery after the all-time high in March, received a positive analysis from Santiment regarding three popular altcoins.
Santiment’s evaluation of the whale wallets on exchanges revealed a decrease of 2.4% for SHIB, 2.9% for LINK, and 8.6% for ETH since May 27. This reduction is seen as a bullish signal for SHIB, LINK, and ETH, indicating that whales are choosing to hold onto their assets rather than incur losses.
The decrease in supply for these three altcoins is considered a positive sign for investors anticipating a price increase. Santiment’s analysis suggests a long-term investment strategy for SHIB, LINK, and ETH, highlighting the potential benefits of holding onto these assets.
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