|
Getting your Trinity Audio player ready...
|
Early Monday trading sessions witnessed a significant surge in Shiba Inu [SHIB] whale activity, with large transactions spiking by an impressive 95%. Data from blockchain analytics platform IntoTheBlock revealed that a substantial $7.75 million worth of SHIB tokens was moved by these major players. This sudden increase in whale interest has sparked speculation within the Shiba Inu community regarding its potential impact on the memecoin’s price trajectory.
Mixed Signals for Potential SHIB Rally
Historically, significant upticks in Shiba Inu whale activity have sometimes correlated with notable price rallies. For instance, a massive surge in November 2024, which saw whale transactions jump from 4 trillion to nearly 30 trillion SHIB, preceded an approximate 100% increase in the memecoin’s value. A similar spike in early February also contributed to a decent upward movement.
However, past performance is not always indicative of future results. Analysis of previous whale activity spikes reveals instances where such movements failed to trigger a price surge. A notable example occurred on January 6th, when large transactions ballooned from 1.5 trillion to 15 trillion SHIB, yet the memecoin experienced a subsequent price decline. Similarly, a whale activity jump in March was met with relatively flat price action. This inconsistency suggests that while whale activity can be a factor, it is not the sole determinant of Shiba Inu’s price movements.
Accumulation Trends and Key Resistance Ahead
Further on-chain data indicates a concerning nearly 30% drop in address activity over the past 24 hours, according to Santiment. The current level of active addresses mirrors lows last seen in October, signaling potentially waning market interest. Despite this, a positive sign lies in the steady accumulation of SHIB tokens. Data shows a significant decrease in SHIB held on centralized exchanges (CEXes) in 2025, dropping from over 140 trillion to below 100 trillion. Concurrently, over 100 trillion SHIB have been bought and moved off exchanges, indicating a strong accumulation trend among certain investors. This accumulation, coupled with the ongoing burning of excess supply, could provide a solid foundation for a potential price reversal should a positive market catalyst emerge.
On the price charts, Shiba Inu has recorded a 23% gain in April. However, the memecoin faces a crucial overhead resistance level at the 50-day Exponential Moving Average (EMA), currently around $0.0000129. This level also aligns with April’s high of $0.000013. For Shiba Inu to achieve a new monthly high, it will need to decisively break above this significant obstacle.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Shiba Inu (SHIB) Faces Bearish Pressure as Whale Activity Drops and Traders Go Short
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
