Shiba Inu (SHIB) traded near $0.00001142 on July 2, gaining around 1.8% in 24 hours. The price moved slightly above short-term support but did so while large wallet flows and trading volume continue to weaken.
Santiment data shows SHIB whale transactions above $100,000 and $1 million have fallen more than 80% from peaks in late 2024. On July 2, only 34 large transactions above $100,000 and just 2 above $1 million appeared on-chain. That number regularly crossed 500 daily during past SHIB rallies.
This sharp drop signals big holders are shifting capital elsewhere. Some whales appear to have rotated into other meme coins like Bonk (BONK) and Pepe (PEPE), which show steadier daily activity and larger seven-day gains than SHIB.
Daily Volume and Retail Activity Stay Soft
Total 24-hour trading volume dropped about 22% to $95 million. The seven-day average of active addresses is around 20,700 — far below the 76,500 peak seen during last year’s upswings.
Bitcoin (BTC) and Ethereum (ETH) prices hover above $106,900 and $2,450 respectively, both showing higher daily liquidity and stronger institutional flows than SHIB’s memecoin segment.
Without whales driving big swings, retail traders now shape most transactions. Smaller wallets alone rarely push sustained breakouts, especially when on-chain momentum stays this soft.
Meanwhile, the supply side shows little immediate relief. Shibburn data confirms the burn rate dropped 68% in 24 hours, removing about 5.7 million tokens.
This equals only about 0.000001% of SHIB’s circulating supply near 584 trillion. While symbolic, these tiny burns deliver no immediate supply shock needed to support price by themselves.
Shiba Inu Dev Activity Stalls — Small Holders Pick Up the Slack
A stronger supply squeeze often needs new development to create utility and demand. But Santiment data shows SHIB’s tracked commits and developer contributions stayed near zero in recent weeks.
While big whales trimmed their share, mid-sized wallets holding 1 million to 10 million SHIB coins have slightly increased their balances since early 2025. This cautious accumulation may limit deep downside but does not carry the same weight as large fresh inflows.
Technical Chart Levels Point to Stiff Resistance
Shiba Inu Price patterns show how fragile the current support is. SHIB trades just under the 20-day EMA near $0.00001170. The 50-day EMA sits near $0.00001242, with the 100-day EMA above $0.00001327. RSI remains near 43 — below the 50 level that signals healthy upward momentum.
If buyers cannot break above these moving averages soon, support near $0.00001032 may be tested again.
One factor could help shift the balance. Shytoshi Kusama, Shiba Inu’s lead developer, posted that July will bring “many announcements, releases, and discussions” under the “JUL-AI” theme. No clear details or timelines were confirmed, but hints of AI integrations or new utility may help pull whales back.
If these updates link with Shibarium or deliver new burn mechanics, they could raise transaction counts and re-engage big wallets.
