Altcoins
SHIB, PEPE and LINK among the main whales Altcoins buy: Nansen
Amid a substantial upward move seen by altcoins SHIB, PEPE, and LINK today, February 28, an intriguing phenomenon appears to be generating remarkable interest among crypto market traders and investors around the world. According to the information revealed by on-chain tracker Nansen, the above-mentioned altcoins have appeared among some of the top tokens in the list of smart money token entries. This sparked immense optimism for these tokens as it hinted at significant whale accumulations by seasoned and experienced investors.
Meanwhile, SHIB and PEPE were trading in the green and LINK in the red at press time, reflecting investor confidence while giving rise to speculation. The derivatives data, however, sparked additional speculation on these tokens, as meme coins noted an upward trend, with an increase in open interest and volume, according to Coinglass data, while LINK noted a drop in open interest but an increase in volume.
Detailed report
According to the reflections proposed by Nansen, SHIB, PEPE and LINK are respectively positioned at the second, fourth and fifth places on the list at the time of writing. Shiba Inu, an Ethereum-based coin, recorded a 24-hour inflow of $4.10 million, while Pepe Coin (PEPE), an Ethereum-based coin similar to Shiba Inu, recorded an influx of $1.40 million over 24 hours.
On the other hand, LINK noted a 24-hour inflow of $1.02 million with an intriguing exchange outflow of $8.17 million, signaling increased coin withdrawals.
This has piqued the interest of crypto market enthusiasts around the world, as these altcoins saw notable pumps today, further aligning themselves with the list of smart money token entries. However, LINK traded with some volatility today, noting significant pumps and busts.
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SHIB and PEPE soar while LINK dives
At the time of writing, the Shiba Inu Price noted a 5.68% rise in the last 24 hours and is currently trading at $0.00001103. Even Pepe Coin Price rose phenomenally today, depicting a staggering 47.54% rise in the last 24 hours. PEPE currently stands at $0.000003291.
Oddly, contrasting with the notable jumps in meme coins, the Chain Link Price showed a slight decline of 0.17% after hitting $19.58 today. LINK price currently stands at $19.26.
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