- Shiba Inu (SHIB) sees a 643% surge in whale inflows as its price climbs 36.3% over the past month.
- Whale wallets control 74% of SHIB tokens, but large transactions have dropped by 4.99%, signaling potential caution.
- SHIB needs a 497.7% rally to hit $0.0001, with a rumored token burn mechanism potentially boosting its chances.
Shiba Inu (SHIB) is catching some serious whale attention. Over the past 30 days, whale capital inflows into SHIB have spiked by a massive 643%, coinciding with a notable price rally. SHIB is up 4.5% in the daily charts, 29.5% for the week, and 36.3% for the month – yet, it’s still down 25.8% since May 2024. Despite the rally, SHIB’s price remains well below its October 2021 all-time high.
Whale Wallets Dominate SHIB’s Circulation
Right now, 74% of all SHIB tokens are held by whale wallets – and that concentration could be both a blessing and a curse. On the one hand, whales can push the price up quickly, but they can also dump just as fast. Data from IntoTheBlock shows that large transactions have actually fallen by 4.99%, a potential warning sign for those hoping SHIB’s rally will continue. Meanwhile, 45% of SHIB holders are currently in profit, up by 6.81% over the last month, but 51% are still in the red.
Can SHIB Hit $0.0001?
To hit the $0.0001 mark, SHIB would need to rally by roughly 497.7% – a massive leap, but not impossible given its history. Back in 2021, SHIB soared by millions of percent, driven largely by speculative hype and whale activity. Now, with rumors swirling about a new burn mechanism that could potentially destroy trillions of tokens annually, SHIB might have another shot at a breakout. But for now, it all hinges on whether Bitcoin (BTC) can maintain its upward momentum and whether whale wallets decide to keep accumulating – or start cashing out.
