The popular meme coin, Shiba Inu (SHIB), appears to be navigating a period of unusual quiet in the market. Significant movements typically associated with its largest holders have tapered off considerably, suggesting a strategic pause among major investors, even amidst recent price volatility. This lull prompts a closer look at what the subdued activity of these key players might signify for SHIB’s future trajectory.
Shiba Inu Whale Activity Enters Quiet Phase
Recent data from blockchain analytics platform IntoTheBlock reveals a remarkable stability in SHIB inflows to major investor wallets over the past week, showing only a marginal decrease of 0.10%. This subdued activity is particularly striking when contrasted with a dramatic event on June 5, when whale inflows plummeted by over 90%, from more than 3 trillion SHIB to less than 300 billion within a single day. While the exact trigger for this sharp decline remains speculative, it coincided with a broader price correction for SHIB, which fell from $0.00001345 on June 3 to $0.0000119 by June 5.
Analyzing On-Chain Data
Despite this recent price volatility, the absence of substantial whale accumulation suggests a “wait-and-see” approach among large holders. Further supporting this notion, outflows from these significant addresses also contracted by 55% during the same period. This indicates that whales are holding rather than divesting their positions. Interestingly, net flows—the difference between inflows and outflows—saw a 67% increase, signaling a marginal shift towards accumulation, albeit with overall low volumes. Analysts suggest this pattern could indicate a consolidation phase, as investors process broader market signals and anticipate potential trend reversals.
Current Market Snapshot and Technical Levels
Amidst these dynamics, SHIB successfully maintained the critical support level of $0.0000119, showing a slight recovery over the weekend. At the time of this analysis, the token was trading at $0.00001255, reflecting a 2% daily decline. Key resistance levels are identified at $0.00001389, aligning with its 50-day Simple Moving Average (SMA), and a more significant barrier at $0.00001745, near the 200-day SMA. For now, SHIB whales appear to be in an observation mode. Whether this reflects extreme caution or a quiet prelude to a significant market maneuver remains to be seen.
Blockchain developer and writer, Daniel combines hands-on coding experience with accessible storytelling. He holds multiple blockchain certifications and authors technical explainers, protocol deep-dives, and developer tutorials to help readers navigate the intersection of code and finance.