What to Know
- SHIB whales withdrew billions from exchanges despite recent price gains.
- Buyers absorbed June 15 selling pressure as accumulation remained.
- Trading activity concentrated near support level, strengthening SHIB stability.
Shiba Inu whales have resisted taking profits despite the token recording a 16% gain over the past week, a development that stands out in the meme coin market where large rallies often encourage investors to sell and lock in returns. Data from Arkham and TradingView covering the period between June 10 and June 16 shows that major SHIB holders largely maintained their positions and, in many cases, continued moving tokens away from exchanges instead of preparing them for sale. The behavior suggests that some of the market’s largest participants may be expecting a broader upside move rather than treating the recent rally as an opportunity to exit their positions.
Large Holders Continue Accumulating
Arkham’s exchange flow data reveals that whale wallets withdrew between 40 billion and 50 billion SHIB during the rally period, transferring the tokens into private cold storage wallets rather than keeping them on trading platforms. This trend is often viewed as a sign of investor confidence because assets stored off exchanges are generally less accessible for immediate liquidation. While short-term traders typically rush to secure gains during rapid price advances, SHIB’s largest holders appeared willing to hold through the rally and reduce the amount of available supply circulating on exchanges.
Also Read: Ripple Backs Flutterwave Series E to Expand RLUSD Payments Across Africa
As a result, selling pressure remained relatively contained even as the token posted double-digit gains. One notable exception emerged on June 15 when a sizable volume of SHIB was transferred to exchanges, indicating that some investors were looking to realize profits from the recent advance.
Source: Akrham
However, the additional supply did not significantly alter market conditions. Buyers absorbed the incoming tokens, and exchange balances quickly shifted back into negative territory by June 16. That reversal reinforced the broader accumulation narrative and suggested that demand remained strong enough to offset isolated selling activity.
Key Support Zone Strengthens
TradingView data shows that SHIB established a local bottom on June 11 before gradually climbing toward the $0.00000503 level. The volume profile on the chart highlights the $0.00000501 region as the area where a significant amount of trading activity has taken place, making it an important support zone for the token. Because buyers have repeatedly entered the market around that level, it now represents a potential line of defense should volatility return.
the combination of whale accumulation, declining exchange supply, and resilient buyer demand indicates that SHIB’s recent rally is being supported by more than short-term speculation, giving investors a reason to monitor whether the current trend can extend further in the coming sessions.
Also Read: CryptoQuant Analyst Flags 2,373 BTC Move From Long-Inactive Whale
