Coingape Staff
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.
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
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
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
