Shiba Inu (SHIB) is approaching the psychological $0.00000500 level, triggering a surge in on-chain activity. According to Etherscan, transfers jumped 68.75% overnight, reaching 8,517 transactions. This followed a coordinated two-step move by whales and retail investors at the turn of the month.
On July 31, large wallets moved 5.59 trillion SHIB in 5,057 transactions, averaging 1.10 billion SHIB per transfer. The next day, retail activity took over, with transactions rising to 8,517 while volume dropped to 4.08 trillion SHIB, cutting the average transfer size to 0.47 billion SHIB. This suggests whales redistributed positions, and retail participants split those volumes into smaller trades.
On-chain data reveals extreme concentration: only 764 whale addresses (0.05% of wallets) control 94.64% of SHIB’s supply. The five largest holders alone account for $2.76 billion of the $4.80 billion market cap. In contrast, the remaining 85.54% of retail wallets hold just 0.42% of the supply, meaning any price movement is largely dictated by this narrow group.
Currently, SHIB trades near $0.00000497, up 3.26% in 24 hours. The 14-day RSI is at 62.16, indicating intact upward momentum without being overbought. Two scenarios emerge: a daily close above $0.000005 could trigger breakout buy orders toward May highs around $0.00000600. Alternatively, if whales moved the 9.6 trillion SHIB combined volume to exchanges for profit-taking, the $0.000005 level could become strong resistance, pushing the price back to $0.00000440 support. The direction will be decided as whales either allow retail to push higher or use the spike in activity as exit liquidity after an 8% rise since Friday.
