SHIB whale transactions surged 248%, but price continues to decline.
On-chain data suggests whales may be selling rather than accumulating.
A drop below $0.00001200 could trigger a deeper correction.
Shiba Inu — SHIB, has once again lit up the charts—and not for the usual reasons. Whale activity has exploded by 248%, with a wave of transactions between $1 million and $10 million. These are no ordinary wallet moves. This sudden surge signals something serious. On the surface, it looks bullish. But once you connect the dots, the real picture turns murkier—and far more complex.
https://twitter.com/Utoday_en/status/1934596481203175493 A Closer Look at the Whale Surge
IntoTheBlock data confirms the spike. Big holders, or whales, are clearly active. But the direction of their money remains uncertain. Normally, that kind of volume points to accumulation. In this case, it doesn’t. The SHIB price continues to fall, now sitting near the fragile support of $0.00001217. Technical indicators reveal more red flags. SHIB still floats below all major moving averages. The 200 EMA, in particular, remains far above as untouched resistance. The RSI, meanwhile, lacks energy and wavers near neutral. In short—no solid momentum exists behind a bounce just yet.
Add those pieces together and a new theory emerges. The whales might not be buying. They could be distributing. With less retail volume and limited liquidity, their large transactions could hint at quiet exits. Retail investors might unknowingly serve as exit liquidity while trying to “buy the dip.” But when that dip deepens, panic often replaces optimism. Right now, SHIB clings to support at $0.00001200. If that support breaks, analysts warn of a slide into sub-$0.00001000 territory. That would send SHIB back to levels last seen in early 2024. And if that happens, confidence will crack.
Price Action Paints a Cautious Picture
For now, the on-chain activity sends mixed messages. High volume usually excites traders. But without rising prices, it raises questions. What’s the real motive behind these large transfers? Many believe this is a setup for a bigger move. But the direction still looks unclear. Until SHIB breaks resistance or shows real momentum, the safest bet may be to wait and watch.
Bearish technicals and fading interest from retail traders make this spike more concerning than inspiring. The market feels fragile. Liquidity is limited. Any major sell-off could send SHIB spiraling down. Still, whale activity means something important: the asset hasn’t been forgotten. The big players are watching. Whether they’re buying or offloading, they see value—or risk.
Either way, traders should stay alert. Big moves rarely happen without warning. And this 248% jump could be that warning. Not all volume signals strength. Sometimes, it signals storms. Monitor every candle. Read between the lines. Protect your capital. And above all—don’t chase the noise. SHIB still holds potential. But for now, the red flags matter more than the hype.
