Shiba Inu (SHIB) has experienced significant fluctuations in large whale transaction volumes over recent days. After a 450% increase in whale transactions worth between $1 million and $10 million over a 90-day period, signaling aggressive accumulation, a sharp reversal occurred on May 13, when large transaction volumes dropped by 49% in just one day.
Data from IntoTheBlock revealed that on May 12, large transactions moving at least $100,000 amounted to 6.35 trillion SHIB tokens, equivalent to around $100 million. However, by May 13, this volume fell to 3.25 trillion SHIB, translating to about $53 million. This decline coincided with a modest price retracement from $0.000017 to approximately $0.000015.
The drop in large whale volumes suggests these investors may have been selling SHIB, contributing to downward price pressure. At present, less than 50% of SHIB holders are in profit, indicating that the majority are holding at a loss, with current market cap around $9.5 billion, still positioning SHIB as the second-largest meme coin after Dogecoin.
Technically, SHIB currently faces resistance near the $0.000016 level. The asset recently broke above its 200 EMA but is struggling to sustain gains and risks falling back to support levels around $0.00001420 or $0.00001310 if $0.000015 does not hold.
While the surge in whale accumulation could point to a bullish setup, concerns remain whether this is supported by genuine retail interest or merely speculative moves by large holders. The potential to reclaim higher price zones between $0.000018 and $0.000020 depends on sustained volume and price action above the 200 EMA. Traders are closely watching the $0.000015 level, which is critical for determining the near-term direction.