- Whale activity surges for Shiba Inu, raising market volatility.
- SHIB’s growing institutional presence sparks excitement and potential price movements.
- Exchange holdings of Shiba Inu increase, signaling possible market shifts.
Shiba Inu (SHIB) has been drawing considerable attention recently, as whale activity surrounding the meme coin has reached its highest point since June. According to data from Santiment, the number of large transfers involving SHIB tokens has surged, signaling heightened interest from major investors. Alongside this, there has been a significant increase in the amount of SHIB available on exchanges, with 1.06 trillion SHIB coins now listed. This surge suggests that many coins are potentially being prepared for sale, adding an element of uncertainty to SHIB’s price movements.
This uptick in whale behavior is being closely monitored by analysts, who warn of potential volatility in the near future. The heavy presence of SHIB on exchanges could lead to price fluctuations, particularly as whales may choose to liquidate their holdings. With more coins accessible for trading, the likelihood of significant price swings grows, as the market reacts to large buy or sell orders.
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Shiba Inu’s Growing Institutional Presence
In addition to the increased whale activity, Shiba Inu’s visibility in the institutional space has been rising. NYSE Arca’s filing for a 19b-4 rule change included SHIB as an eligible asset for the T. Rowe Price Active Crypto ETF. This move places SHIB alongside well-established cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), signaling a potential shift towards greater institutional acceptance. Coinbase Derivatives’ expansion of SHIB futures trading also further enhances its accessibility for U.S. traders.
Factors Behind Shiba Inu’s Volatility
Despite these institutional developments, Shiba Inu remains down approximately 90% from its all-time high achieved four years ago. According to Coingecko, the current market cap of SHIB hovers just below $5 billion, and while it saw a 6% increase in the last 24 hours, experts caution against expecting a sharp price rally. Although the recent surge in whale activity may create short-term excitement, it’s unclear whether this will translate into sustained upward momentum for the token.
As SHIB continues to draw the attention of large investors, its future remains uncertain, especially with the heightened market volatility expected in the coming days. Investors and traders should be prepared for potential fluctuations as the token’s trading activity evolves.
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