SHIB Whale Activity Surges: 74% Supply Held by Large Addresses as Weekly Volume Hits $120M

Shiba Inu (SHIB), the popular meme coin, continues to capture market attention with heightened whale activity. Recent data highlights significant accumulation by large holders, sparking discussions about market liquidity and volatility risks.

Shiba Inu: 74% Held by Large Addresses, Transaction Volume Reaches $120.46M in 7 Days

Shiba Inu (SHIB), one of the most renowned meme coins, has drawn significant attention lately. Recent data from IntoTheBlock reveals that close to 74 percent of the 95 billion SHIB supply in circulation is held by large addresses, known as whales. Over $120 million in large transactions in a week indicates ongoing interest from high-value buyers. While whale involvement boosts market activity, it also poses risks as sudden sell-offs can lead to sharp price drops.

Shiba Inu: Majority of Wallets at Loss Despite Record Burn and Whale Activity

Despite signs of sustained activity, Shiba Inu (SHIB) is experiencing underperformance. The token’s profitability has reached a historic low, with over 85% of holders facing losses. Trading volumes have surged, but a key technical resistance at the 0.000012 $ threshold hinders price progress. Whale transactions have also seen a significant increase, adding to the market’s complexity. The apparent excitement in the market contrasts sharply with the massive losses incurred by many holders, raising questions about the true state of SHIB’s market structure.

Shiba Inu’s 2024 Downtrend Could End Soon; Key Level to Watch

Shiba Inu (SHIB) is approaching the upper trendline of a downtrend channel that has formed since late 2024. Market experts suggest that a breakout above this channel could trigger a rally. Increased trading volume, with a 59% surge, and recent SHIB token burns of over 900 million are fueling positive price momentum. SHIB’s weekly gain of 3% outperforms the global crypto market (2.90%) and the Coinbase 50 Index (0%). A descending channel is a bearish technical pattern, and a breakout above the resistance suggests that the downward pressure is losing momentum and buyers are gaining control.

Shiba Inu (SHIB) Burn Rate Jumps 827%, 26.48 Million Tokens Burned

Shiba Inu (SHIB), the second-largest meme coin, has seen a significant increase in its burn rate. In the past 24 hours, 26,487,473 SHIB tokens were burned, marking an 827% jump. This activity is part of a broader effort to reduce the total supply of the token, leading to slight price increases and raising hopes among investors.