Shiba Inu Whales Jump Ship as Meme Coin Momentum Fizzles

Big players ditch SHIB—burn rate sputters while the ’dogecoin killer’ narrative loses its bite.

Whales bail as hype deflates: Once-hot meme coin sees large holders offloading bags, leaving retail to shoulder the volatility.

Burn mechanism crawls: The token’s deflationary engine—meant to boost scarcity—is chugging at a sluggish pace, failing to offset sell pressure.

Another ’utility’ play bites the dust? Shiba’s ecosystem expansions now look like desperate pivots rather than organic growth—classic crypto theater.

Worse, the selling behavior did not improve as Bitcoin (BTC) surged to a record high of nearly $112,000 last week. In the past, a strong Bitcoin surge would have pushed shiba inu higher. 

Another data by Nansen shows that smart money investors have also sold their SHIB tokens. They now hold 14.13 billion tokens, down from 14.53 billion on April 8. 

In addition to the falling burn rate, investors have likely rotated to the faster-growing meme coins like Fartcoin and Dogwifhat.

Shiba Inu price technical analysis

On the positive side, there are signs that the SHIB price has bottomed. The daily chart shows that it is stuck at the 100-day Exponential Moving Average. 

It has also formed a cup and handle pattern, with the upper side at $0.00001733. The recent decline is part of the formation of the handle section. 

This cup has a depth of about 40%. Therefore, measuring the same distance from its upper side brings the target at $0.00002443. This is a notable target since it coincides with the highest point in January.