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Shiba Inu (SHIB) has just experienced one of its most intense periods of whale activity in weeks, with large transaction volumes surging by 218% over the course of just two days. According to data from IntoTheBlock, the figure climbed from $17.43 million on Aug. 10 to $38.09 million on Aug. 11.
What makes this even more intriguing is that the price did not rise at the same time, which often suggests that larger forces are at play.
Over the weekend, SHIB was priced at almost $0.000014. However, by Monday it had fallen to around $0.000013. But that did not stop whales from moving loads of tokens.
In fact, this suggests that these were not quick profit grabs but possibly shifts into long-term storage or large holders setting themselves up for a later play. Action of this kind often occurs before other parts of the market become aware of it.
What about Shiba Inu (SHIB) price?
On the short-term chart, SHIB has been drifting lower since reaching $0.00001390 at the beginning of August, hitting lows near $0.00001260 today. Currently, it is around $0.00001280, an area that has acted as a turning point before.
If whale activity remains high and this level is maintained, we could see an attempt to rise back toward $0.00001350. However, if it breaks, the deeper dip could be unavoidable.
Shiba Inu coin whales are clearly on the move and not chasing price spikes. This usually indicates that they are planning something in the longer term, such as accumulation ahead of a push or repositioning before volatility kicks in.
Either way, the past 48 hours have put SHIB back on the radar, and history shows that the market does not ignore these kinds of moves for long.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team