#shibaInu (SHIB), the popular dog-themed cryptocurrency, has experienced a sharp resurgence in large-scale transactions, signaling renewed interest from major holders—or “whales”—within the crypto market.
According to on-chain analytics platform IntoTheBlock, $SHIB recorded a remarkable 551% increase in large transaction volume over the past 24 hours. This spike represents approximately 1.6 trillion SHIB tokens—equivalent to $18.24 million—moved on-chain, marking the highest level of whale activity in the past seven days.
Whale Activity Resumes After Lull
Large transactions are defined as individual transfers exceeding $100,000 and are commonly used to monitor whale behavior. Prior to this surge, SHIB’s whale transaction volume had remained subdued, with a recent low of 236.19 billion SHIB recorded on June 29. The latest surge suggests a renewed phase of accumulation or strategic repositioning by large holders.
Additionally, large holder inflows—a measure of tokens acquired by wallets holding more than 0.1% of the total supply—also saw a 271% increase over the week, further reinforcing the trend of growing whale interest.
#SHIB Price Performance
Despite the spike in whale activity, SHIB's price action has been modest. At the time of writing, SHIB was trading down 1.79% over the past 24 hours, in line with a broader, mild pullback across the cryptocurrency market as July begins.
SHIB had posted a short-lived rally over the weekend, reaching a high of $0.00001198 on June 29, but was unable to sustain momentum due to weak trading volumes. Looking ahead, technical indicators suggest that a breakout above the 50-day and 200-day moving averages, currently at $0.00001298 and $0.00001553 respectively, would be necessary to trigger a move toward the $0.00002 level.
On the downside, key support is expected at $0.00001, a price level that has previously held during periods of selling pressure in April and late June.
Market Outlook
The recent surge in whale activity could precede heightened volatility in SHIB’s price, particularly if accumulation continues. Traders and investors will be closely watching whether this uptick leads to a sustained rally—or if it signals a potential redistribution phase.
As Shiba Inu continues to attract speculative interest, particularly from larger market participants, on-chain metrics and volume trends will remain key indicators for its near-term trajectory.
