Significant whale accumulations have followed Shiba Inu price dips, with one investor now controlling a portfolio of 477.5 billion SHIB tokens.
Today, Shiba Inu (SHIB) faced a notable price decline, dropping to $0.00001832. The token experienced an 8.23% drop in the last 24 hours and a 12.25% decrease over the past week.
However, amid the downturn, on-chain data indicates a significant accumulation event, with a whale transferring 257.51 billion SHIB from Binance to a private wallet.
Major Shiba Inu Whale Transactions
The wallet involved in the latest transfer now holds 477.5 billion SHIB, valued at approximately $8.57 million or 2,790 ETH. This transaction follows a prior 219.99 billion SHIB transfer from Binance to the same wallet 25 days earlier.
Historically, large inflows to private wallets often suggest accumulation, while flows to exchanges indicate potential sell-offs.
After the market dropped, this whale accumulated another 257.5B $SHIB($4.6M).
This whale currently holds 477.5B $SHIB($8.57M).https://t.co/k75VUmJZRh pic.twitter.com/xu5GYKZBcN
— Lookonchain (@lookonchain) January 27, 2025
Further examination of past transactions revealed consistent inflows and outflows between wallets. Data from 172 days ago showed an outflow of 65.28 billion SHIB to a crypto exchange, while 176 days ago, the same wallet received 64.51 billion SHIB from Binance.
Ownership Trends and Surging Burn Data
Meanwhile, a breakdown of SHIB ownership trends highlighted substantial changes in distribution. Over the last seven days, whale SHIB ownership dropped by 57.11%. However, a 30-day change showed a sharp increase of 168.57%, while the 90-day accumulation surged by 242.15%, reinforcing a strong accumulation phase over the past three months.
Large Shiba Inu Holders Netflow
Further, Shiba Inu’s bullish momentum strengthened despite declining prices, as its burn rate soared 191.13% in 24 hours, eliminating 6,278,168 SHIB.
Tokenomics data indicated that 410.74 trillion SHIB had been permanently burned, reducing the maximum total supply from its initial 999.98 trillion SHIB. The remaining total supply stands at 589.25 trillion SHIB, with a circulating supply of 584.25 trillion SHIB. Additionally, 5.00 trillion SHIB is currently staked as xSHIB, which reduces market liquidity.
Key Support to Watch for SHIB Amid Dip
On the technical analysis front, a TradingView chart by Ali Martinez identified a crucial support zone for SHIB between $0.0000185 and $0.0000212. This level has historically functioned as both support and resistance, and a breach below this zone could lead to further downward movement.
The $0.0000185 to $0.0000212 range stands as the most critical support zone for #ShibaInu $SHIB! pic.twitter.com/mKXcYtvqS1
— Ali (@ali_charts) January 27, 2025
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