SHIB, PEPE, & LINK Among Top Altcoins Whales Are Buying: Nansen

Coingapestaff
February 28, 2024
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Crypto Price Prediction

Highlights

  • Nansen's list unveils SHIB, PEPE, and LINK's positioning at the top altcoins' list whales are accumulating.
  • Meme coins SHIB and PEPE rally, mirroring investors confidence.
  • LINK records a marginal dip.

Amidst a substantial upward movement noted by the altcoins SHIB, PEPE, and LINK today, February 28, an intriguing phenomenon appears to be garnering noteworthy interest among crypto market traders and investors globally. As per insights unveiled by the on-chain tracker Nansen, the above-mentioned altcoins emerged among some of the top tokens in the smart money token inflow list. This propelled immense optimism for these tokens as it hinted at significant whale accumulations by seasoned and experienced investors.

Meanwhile, SHIB, and PEPE, traded in the green and LINK traded in the red as of press time, mirroring investors’ confidence while also birthing speculations. Derivatives data, however, sparked additional speculations for these tokens as the meme coins noted an uptrend, with rising open interests and volume, per Coinglass’ data, whereas LINK noted a drop in open interest but a rise in volume.

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In-Depth Report

According to the insights offered by Nansen, SHIB, PEPE, and LINK are positioned in second, fourth, and fifth place on the list, respectively, as of writing. Shiba Inu, an Ethereum-based meme coin, recorded a 24-hour inflow of $4.10 million, whereas Pepe coin (PEPE), an Ethereum-based meme coin similar to Shiba Inu, noted a 24-hour inflow of $1.40 million.

On the other hand, LINK jotted a 24-hour inflow of $1.02 million with an intriguing exchange outflow of $8.17 million, signaling increased coin withdrawals.

This piqued the interest of crypto market enthusiasts across the globe as these altcoins witnessed notable pumps today, further aligning with the smart money token inflow list. However, LINK traded with quite the volatility today, noting significant pumps and slumps.

Also Read: Bitcoin Nears $60K: Reasons Why BTC, ETH, XRP, PEPE Prices Are Rising Today

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SHIB, PEPE Soars While LINK Dips

As of writing, the Shiba Inu price noted an uptick of 5.68% in the past 24 hours and is currently trading at $0.00001103. Even Pepe coin’s price surged phenomenally today, illustrating a staggering 47.54% upswing in the past 24 hours. PEPE currently rests at $0.000003291.

Intriguingly, contrasting the meme coins’ witnessed notable jumps, the Chainlink price showcased a marginal 0.17% dip after trading as high as $19.58 today. The LINK price currently stands at $19.26.

Also Read: Spot Bitcoin ETF: IBIT, GBTC & Others Gain In Pre-market Trading

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.