Shiba Inu Rally Sparks Warning as Whale Activity Suggests Profit-Taking
On July 26, Shiba Inu (SHIB) surged by nearly 37%, adding about $1 billion to its market capitalization before retreating. The rally marked a strong week for the memecoin, which is now the second-largest after Dogecoin. However, blockchain analytics firm Santiment noted increased whale activity during the surge—recording 52 transactions of at least $100,000—the highest since March 31. Santiment suggested that large holders were likely selling into strength rather than signaling a long-term breakout. The social dominance metric for SHIB reached its peak in months just as the price rally began to fade, indicating retail traders entered late and chased momentum near the top. This pattern is typical of memecoin markets where sentiment shifts rapidly. At publication time, SHIB was down 5.5% over the past day but still up more than 21% for the week. The coin remains significantly lower compared to a year ago, trading at around $0.00000502.
Topics: memecoin rally profit-taking Shiba Inu whale activity