Shiba Inu Sees 228% Surge in Whale Activity, Price Drops 3.119%

Shiba Inu's latest price was $0.00001302, down 3.119% in the last 24 hours. In April 2025, Shiba Inu experienced a notable increase in the number of addresses holding significant amounts of the token. According to on-chain data, the number of addresses holding at least $1 million worth of SHIB rose from 751 to 860, marking a net increase of 109 new millionaire wallets in a single month. This surge reflects either an appreciation in the value of previously held tokens, additional accumulation, or a combination of both. Specifically, 796 addresses held between $1 million and $10 million in SHIB, an increase of 107 addresses, and 64 wallets held more than $10 million, up from 62 at the start of the month.

Two primary factors appear to have influenced the increase in SHIB millionaire addresses. One is the token’s price increase, which likely elevated some existing holders’ portfolios above the $1 million threshold. For example, with SHIB trading at a certain value near the end of April, an investor with a specific amount of tokens would see their holdings valued at approximately $1 million. At the start of April, the same amount of SHIB would have been worth less, below the millionaire mark. The second factor is likely increased accumulation during the month. On-chain data indicates that addresses holding between 10 billion and 100 trillion SHIB added roughly 210 billion tokens in April, bringing their collective total to 541.28 trillion SHIB. Though modest in percentage terms, this accumulation trend suggests growing interest among mid- to large-scale investors during the rebound.

The rise in millionaire wallets suggests renewed investor confidence in Shiba Inu following its recovery. While SHIB’s growth in April was outpaced by broader market movements, the consistent accumulation and increase in high-value holdings point to ongoing engagement with the asset. These trends may serve as indicators of Shiba Inu’s future momentum and the strategic behavior of its wealthier investors.

In a surprising turn of events, Shiba Inu has seen a 228% surge in large transaction volume, a metric indicative of whale activity. According to data, Shiba Inu's large transaction volume surged 228.41% in the last 24 hours to reach $17 million or 1.27 trillion SHIB in crypto terms. Large transactions refer to those greater than $100,000, and a surge in volume of these transactions might suggest whale activity, either buying or selling. Following a steady drop in large transaction volume since April 28, Shiba Inu surged at May's start, rising from 383.55 billion SHIB to 1.27 trillion SHIB on May 2.

The recent surge in whale activity is drawing attention as SHIB stands on the verge of a gigantic barrier where 539.28 trillion SHIB were previously bought. According to data, next to where SHIB trades is a massive resistance zone that lies in the range of $0.000014 to $0.000019. This is where a staggering 539.28 trillion SHIB tokens are held by 150,680 addresses at an average price of $0.000016. If the SHIB price manages to break above this level, it could spark a bullish rally following a flood of buying orders, hence pushing the price higher. On the other hand, a lack of buying pressure at this range might trigger a pullback or consolidation. Shiba Inu's attempt to wade through this zone culminated at a high of $0.00001525 on April 26, after which it declined to trade in a range. As Shiba Inu's price consolidates, the market will be looking out for clues on SHIB's next breakout while paying attention to investor sentiment.