Decline in SHIB Whale Activity

Cryptocurrency analyst and trader Ali Martinez has shared a chart provided by the on-chain data aggregator Santiment.

This chart clearly shows a massive decline in whale activity on the Shibarium network over the past 90 days.

SHIB Whales’ Activity Declines

The Santiment chart shared by Martinez illustrates a tremendous decline in SHIB whale transactions on the network since early December 2024. The chart registers SHIB transfers of more than $1 million worth of SHIB made by large wallets.

The decline in transaction activity has corresponded with a drop in the SHIB price, which fell from $0.000033 to $0.000016. Ali noted that since Dec. 6, whale activity on the Shiba Inu network has seen a 79% decline.

> Whale activity on the #ShibaInu $SHIB network has declined by 79% over the past three months.
> — Ali (@ali_charts) February 22, 2025

SHIB Burns Skyrocket 134%

According to a recent tweet from the Shibburn tracker, the SHIB community has managed to significantly increase the burn rate recently.

In the past day, the community disposed of 34,245,582 SHIB, causing the burn rate to spike by 133.66%. The two largest burn transactions consisted of 20,423,263 and 13,046,414 Shiba Inu meme coins.

The weekly burn rate has also shown a major increase of 120.3%. In total, 128,221,396 SHIB has been locked in unspendable blockchain wallets over the past week, meaning they have been burned.

SHIB Market Performance

Meanwhile, SHIB, the second-largest meme-themed cryptocurrency, has displayed an almost 3% increase since Friday. This rise attempts to recover from a 6.57% decline that occurred on Thursday.

As of this writing, SHIB is trading at $0.00001540.