SHIB On-Chain Transfers Jump 68% to 8,517

SHIB News

Shiba Inu (SHIB), the Ethereum-based altcoin, recorded a sharp one-day increase in network activity as transfer counts rose 68.75% from 5,057 on July 31 to 8,517 on Aug. 1, according to Etherscan on-chain data reviewed on Aug. 2. The token’s price was quoted near $0.00000497 during the same window, up 3.26% over 24 hours and roughly 8% since the prior Friday, placing SHIB close to the psychologically important $0.00000500 mark. The transfer spike did not come with a matching increase in total value moved. On July 31, large wallets transferred 5.59 trillion SHIB, while Aug. 1 activity shifted to a broader set of smaller movements totaling 4.08 trillion SHIB. Average transaction size fell from about 1.10 billion SHIB to roughly 470 million SHIB, a change that suggests distribution into smaller wallets rather than a single whale-driven block trade. The 14-day relative strength index cited in the on-chain market note stood at 62.16, indicating that momentum remained positive without entering an extreme overbought zone. That technical posture matters because SHIB has previously produced abrupt vertical moves, including a prior 36% one-day rally that occurred without a clear fundamental catalyst. For traders watching the Shiba Inu market, the key question is whether the new activity represents accumulation ahead of a breakout or repositioning by large holders into retail demand. On-chain data alone cannot confirm intent, but the timing near a major round-number barrier makes the flow more significant than a routine rise in transaction counts. A separate on-chain burn metric showed 124.02 million SHIB removed from circulation, a modest supply-side figure relative to the multi-trillion transfer volume. The broader backdrop has also been less favorable for meme tokens, with institutional capital favoring Bitcoin and leaving SHIB and DOGE trying to regain market leadership. A daily close above $0.00000500 would likely bring the May high near $0.00000600 into view, while rejection could shift price back toward the $0.00000440 support area.

The distribution pattern around the $0.00000500 threshold gives the transfer data a more specific market-structure reading. On July 31, large addresses moved 5.59 trillion SHIB across 5,057 transactions, with an average transfer of about 1.10 billion SHIB, a profile consistent with whale-led repositioning. The following day, transaction count climbed to 8,517 while total volume declined to 4.08 trillion SHIB, cutting the average transfer to roughly 470 million SHIB. That sequence points to smaller participants absorbing or fragmenting the previous day’s larger coin movements, rather than a fresh wave of uniform institutional-size transfers. Holder concentration amplifies the importance of any such redistribution. On-chain balance data shows 764 addresses, representing just 0.05% of SHIB wallets, controlled 94.64% of the token’s market capitalization. The five largest holders accounted for $2.76 billion of a $4.80 billion total market value, while the remaining 85.54% of individual and small-wallet holders collectively held only 0.42% of supply. These totals can include exchange wallets, burn addresses and smart-contract accounts, so they should not be read as a direct measure of individual whale ownership. Still, the structure means that marginal price action in this token is often determined by a narrow set of custodial or strategic addresses. Unlike an all-time-high chase, the current setup is defined by a technical barrier rather than euphoric discovery. In a bear market or risk-averse tape, such concentration can magnify volatility when large holders move coins toward trading venues. Because much meme-token liquidity routes through Automated Market Maker (AMM) pools as well as centralized order books, concentrated transfers can affect executable prices faster than headline market capitalization suggests. The two near-term scenarios remain straightforward. A daily close above $0.00000500 could activate resting buy orders and open a path toward the May high near $0.00000600. If the combined 9.6 trillion SHIB moved over two days was intended for profit-taking against retail demand, however, that same level may act as firm resistance and push price back toward $0.00000440.

COINOTAG’s proprietary 42-indicator composite S/R scoring engine frames SHIB’s near-term structure as balanced but slightly constructive. The engine rates the strongest displayed resistance bucket at $0.0000 (Fibo 0.382) at 58/100, while the strongest support cluster at $0.0000 (Flip R→S, EMA 20) scores 49/100. Spot printed at $0.0000 in our four-decimal feed, with a 1.01% 24-hour gain, $108.2 million volume and RSI at 62.69. A bounce from the 49-scored base toward the 58-scored resistance is the bullish path; rejection or a break below support turns the setup bearish. Funding at 0.0043% shows mild long willingness, while the COINOTAG Fear & Greed Index at 27/100 and Bitcoin’s 69.6% tracked-market share signal fragile altcoin risk appetite.