- ShibaInu whale activity has dropped 79% since December 2024, reflecting a sharp decline in large transactions.
- ShibaInu burn rate skyrocketed 134%, removing over 34 million SHIB from circulation in 24 hours.
Shiba Inu (SHIB) whales have suddenly disappeared from the market. Data from Santiment, shared by analyst Ali Martinez, reveals a sharp decline in large SHIB transactions over the past 90 days.
Since early December 2024, transactions involving more than $1 million worth of SHIB have dropped significantly. This decline mirrors SHIB’s price movement, which fell from $0.000033 to $0.000016. According to Martinez, whale activity has plunged by 79% since December 6.
ShibaInu Burns Surge 134%
While whales retreat, SHIB’s burn rate is surging. The Shibburn tracker reported a 133.66% increase in SHIB burns over the past 24 hours. The community successfully burned 34,245,582 ShibaInu, removing them from circulation.
Two major transactions contributed to this increase: one burning 20,423,263 SHIB and another burning 13,046,414 SHIB.
The weekly burn rate has also skyrocketed, rising by 120.3%. Over the past week, a total of 128,221,396 SHIB was sent to unspendable wallets, reducing supply and potentially aiding future price movements.
SHIB’s Price Tries to Recover
Despite the drop in whale activity, SHIB’s price has shown signs of recovery. After a 6.57% decline on Thursday, SHIB gained nearly 3% by Friday. At the time of writing, it trades at $0.00001540.
The combination of reduced whale activity and an increasing burn rate creates uncertainty for SHIB’s short-term price action. If the burn trend continues, supply reduction could support a price rebound. However, the absence of whale transactions raises questions about future demand.
Will SHIB regain momentum, or will the whale exodus signal further declines? Investors are watching closely.
