The altcoin market is experiencing notable volatility this October. Recent data from the on-chain analytics firm Santiment reveals a significant increase in SHIB ADA whale selling pressure. Large holders (whales) have been observed moving massive amounts of tokens, raising concern among investors.
Santiment’s reports highlight a surge in high-volume transactions, specifically those exceeding $100,000. For Shiba Inu (SHIB), massive transfers to exchanges were detected, a classic indicator of sell intentions. These transactions suggest early investors or large accumulators are moving assets to liquid platforms. Cardano (ADA) is not far behind.
Its on-chain metrics also show notable distribution by large wallets. Millions of ADA have been transferred, coinciding with social media activity spikes warning of the sell-off. Although less discussed, the Zora (ZORA) token has also registered atypical movements from major holders this month, increasing caution.
These movements are not isolated. They occur during a time of general uncertainty in the crypto market, as Bitcoin struggles to maintain key levels. When whales sell, it is often interpreted as profit-taking or a reallocation of capital amid volatility. This “smart money” action often precedes broader market corrections. The global economy also plays a role. Inflationary pressures and interest rate changes can lead large players to seek liquidity or less volatile assets.
Could This Massive Sell-Off Trigger a Price Drop?
The increased supply on exchanges exerts direct downward pressure on SHIB and ADA prices. Both assets, which rely heavily on community sentiment, are particularly sensitive to these volumes. Both assets have shown weakness in their daily charts, struggling to find support. For retail investors, this whale activity is a clear warning sign. Many traders closely follow these on-chain transactions to anticipate short-term corrections and adjust their trading positions.
The current situation underscores the influence large holders still have on altcoin markets. Their ability to move the price with a single transaction remains a dominant factor. If the SHIB ADA whale selling pressure continues in the coming weeks, both tokens will likely struggle to hold key support levels. Analysts recommend monitoring Santiment’s data. The stabilization of these metrics will be crucial for the market to absorb the supply and seek a sustainable recovery.
