Shiba Inu (SHIB) Whale Moves Dry Up — What It Means for Investors

Shiba Inu (SHIB), one of the most popular dog-themed meme coins, witnessed a dramatic 88.09% drop in large transaction volume on June 18, according to the latest on-chain data from IntoTheBlock. This steep decline points to a significant slowdown in whale and institutional activity, reflecting broader negative sentiment across the crypto market.

Large Transactions Dip Sharply as Market Volatility Persists

In just two days, SHIB’s large transaction volume has plunged from $196.15 million on June 16—its highest weekly level—to just $23.36 million. This nearly 90% drop in whale movement comes amid a broader crypto market downturn, with leading cryptocurrencies facing sharp sell-offs and heightened volatility.

Large transaction volume typically tracks transfers exceeding $100,000, often associated with whale investors or institutional players. The sudden pullback signals a cooling in investor confidence, as big players appear to be stepping back from aggressive accumulation or distribution.

On-Chain Metrics Reveal Weakening Momentum

This on-chain retreat follows a period of elevated SHIB activity, where whales were accumulating during consolidation phases. However, the current decline suggests that interest from high-net-worth investors is waning, a potential bearish signal for short-term market direction.

Despite the significant drop in whale activity, SHIB’s price has remained relatively stable, recording a modest 0.75% increase over the last 24 hours. As of press time, SHIB is trading at approximately $0.00001170, according to CoinMarketCap.

SHIB Holders Eye Price Breakout Amid Uncertainty

While SHIB’s recent price action has shown resilience, the weakening on-chain momentum and reduced whale participation raise questions about the sustainability of its current price levels. Investor sentiment appears to be shifting, with many awaiting signs of a broader market reversal before re-entering.

This sharp decline in large transaction volume may serve as a key signal of caution among SHIB whales, potentially delaying any imminent price breakout. However, the steady price movement could indicate that SHIB is entering a consolidation phase before its next major move.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.