Shiba Inu Whales Spike To 6-Month High: What’s Brewing?

The number of Bitcoin addresses holding over 0.1 BTC has not increased in the past two years, breaking a long-standing trend of growth that persisted through various market cycles. This stagnation suggests a shift in the engagement of smaller and mid-sized investors with Bitcoin, even as institutional interest in the cryptocurrency market continues to rise.

Bitcoin has experienced a significant drop in its on-exchange supply, with over 403,000 BTC leaving exchanges since December 7, 2024, representing about 2% of its total supply. This trend, noted by Santiment, suggests a shift towards long-term holding rather than immediate selling.

Shiba Inu has experienced a significant increase in spot trading volume across major exchanges, including a 154% rise on Kraken over the past week, indicating a potential bullish trend for the second-largest meme coin by market cap. This surge comes as the broader cryptocurrency market faces declines, suggesting that buyers are stepping in to support the SHIB price at critical levels.

Over the past year, Santiment reported that more than 403,000 Bitcoin have been withdrawn from exchanges, indicating a significant trend towards long-term holding among investors. This withdrawal represents about 2% of Bitcoin's total supply, suggesting a shift in market dynamics.

Shiba Inu (SHIB) is currently trading at approximately $0.0000085, remaining about 90% below its peak value. The price is fluctuating within a range of $0.0000075 to $0.0000095, with $0.0000075 serving as the first support level. This situation has led to a mix of market sentiments, oscillating between boredom and anticipation of potential price movements.

Approximately 400,000 Bitcoin have been withdrawn from exchanges since last year, according to data from Santiment. This trend indicates that a portion of these outflows is directed towards individual storage wallets, while exchange-traded funds (ETFs) and institutional investors are also accumulating Bitcoin.

Solana's price is currently facing a critical test as it trades just below the $140 resistance level, following a modest recovery from a low of $128. Analysts are closely monitoring the situation, particularly the impact of Key Opinion Leader (KOL) predictions and liquidity shifts, as the cryptocurrency has struggled to maintain its recent gains amid increased whale activity and selling pressure.

XRP's price has been trading sideways, remaining just above the $2 mark, which has negatively impacted the performance of the U.S. spot ETFs linked to the altcoin. Since its launch, Canary Capital's XRP fund has seen a 20% decline, reflecting bearish sentiment among investors as XRP has dropped over 10% in the past month.