Shiba Inu (SHIB) has witnessed a dramatic surge in whale outflows, jumping 992% this week, according to data from IntoTheBlock. Large holder outflows rose sharply from 105.39 billion SHIB on June 1 to an astonishing 1.07 trillion SHIB by June 3. This metric tracks the volume of tokens exiting wallets owned by whales or significant holders.
Such spikes often indicate two key trends. First, they can signal that whales are selling off their holdings. However, more often, these outflows represent withdrawals from centralized exchanges to cold storage a move that tends to suggest long-term confidence rather than panic selling.
Large Holders Outflow, Courtesy: IntoTheBlock
Whale Inflows and Transactions Also Climb
Interestingly, while outflows have surged, large holder inflows have also increased by 206%. This trend indicates that some whale addresses are accumulating SHIB rather than distributing it. The simultaneous rise in both inflows and outflows suggests intense repositioning by major holders.
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Additionally, Shiba Inu’s large transaction volume defined as individual transactions exceeding $100,000 has skyrocketed by 216% over the last 24 hours. This massive uptick points to heightened whale activity and increased volatility in the SHIB market. These movements imply that large players are adjusting their strategies, potentially gearing up for a major price move.
SHIB Price Faces Key Resistance Levels
Despite these whale-driven developments, SHIB’s price has declined slightly. At the time of writing, SHIB trades at $0.0000131, down 0.56% in the past 24 hours. The token had rebounded from a recent low of $0.00001226 recorded on May 31.
Source: TradingView
However, Shiba Inu faced resistance at $0.00001345 during Tuesday’s session, causing a minor pullback. Looking ahead, a sustained break above the 50-day Simple Moving Average (SMA) at $0.00001387 could trigger renewed bullish momentum.
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If bulls manage to push SHIB past the 200-day SMA at $0.00001764, it may confirm the start of a fresh upward trend. Conversely, if selling pressure intensifies, SHIB could retest support near the $0.00001 level. Overall, the massive surge in whale outflows and inflows indicates that large SHIB holders are actively maneuvering, not necessarily abandoning the token.
Whether this signals long-term accumulation or a short-term exit strategy remains to be seen. However, these movements confirm that SHIB is once again in the spotlight and investors should pay close attention.
