Shiba Inu (SHIB) Surges 10% Amid Whale Activity and Shibarium Advancements

  • The Shiba Inu (SHIB) cryptocurrency saw a notable surge with an increase of 10% on June 5, mainly driven by heightened whale activity.
  • This spike can be linked to the meme coin’s burning mechanism and advancements in the Shibarium network.
  • Significant volume increases and positive investor sentiment are key highlights from the recent developments.

Explore how Shiba Inu (SHIB) is gaining momentum in the crypto space, fueled by whale activity, a robust burning mechanism, and innovative tech developments.

Shiba Inu (SHIB) Experiences Significant Surge

On June 5, the Shiba Inu (SHIB) token experienced an impressive 10% price increase over 24 hours, according to CoinGecko’s data, trading at approximately $0.00002612. This rally underscores the ongoing vitality and investor interest in the cryptocurrency market, particularly within the SHIB ecosystem.

According to IntoTheBlock, daily aggregated volumes for SHIB, where transactions exceeded $100K, surged to nearly $135 million—a 99% increase from the previous day. This significant influx highlights growing transactional activities and investor confidence within the market. Furthermore, 65% of all SHIB holders are currently in profit, reflecting the token’s favorable performance. Whales, holding 73% of the circulating supply, continue to exert considerable influence on market dynamics.

Factors Contributing to the Surge

The recent rally in SHIB’s price can largely be attributed to the meme token’s burning mechanism and developments within the Shibarium layer-2 scaling solution. The burn rate witnessed an explosive increase of over 10,000% on June 4, with nearly 370 million tokens destroyed in the last month alone. This burning initiative aims to reduce the circulating supply of SHIB, thereby increasing its scarcity and potentially boosting its value, assuming demand remains strong or increases.

Shibarium has also reached a notable milestone, with over five million total blocks processed by the end of May. Introduced last summer, Shibarium aims to enhance the SHIB ecosystem by reducing transaction fees, improving speed, and increasing scalability. These advancements are crucial for fostering sustainable growth and adoption within the network.

Investor Movement Towards Self-Custody

In recent days, the SHIB ecosystem has seen a trend where exchange outflows have surpassed inflows, indicating a shift towards self-custody among investors. This trend is considered bullish as it implies reduced immediate selling pressure and a heightened level of trust in the token’s future potential. This move towards decentralization could further enforce stability within the SHIB market.


Shiba Inu (SHIB) is showcasing a strong resurgence, fueled by strategic burning mechanisms, technological advancements in Shibarium, and a notable shift towards self-custody among investors. These factors collectively contribute to the positive market sentiment and long-term potential of SHIB. As the ecosystem continues to develop and evolve, investors and analysts alike will be closely monitoring its trajectory and the implications for the broader crypto market.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News


PRO Analysis

Ethereum Price Analysis: Regulatory Delays and Market Sentiment Intensify Decline

The recent volatility in Bitcoin’s price has...

Discover the Future of Decentralized Trading: In-Depth Analysis of GNS Coin on Gains Network

Gains Network (GNS) is a decentralized trading...

Dogecoin Price Analysis: Potential Trend Reversal and Future Projections

Dogecoin's value has experienced a substantial decline...

BONK Price Analysis: Bullish Reversal Imminent as Key Support Level Holds

Amid fluctuating market conditions, BONK is displaying...
Gideon Wolf
Gideon Wolf
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.

Coinbase Halts Trading for Enjin Coin (ENJ), Ensuring Fund Withdrawals Remain Open

Coinbase, one of the leading cryptocurrency exchanges, has revealed the cessation of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on...

Retik Finance (RETIK) Emerges as Dominant Solana Competitor with 500% Growth Potential and Major Exchange Listings

Retik Finance (RETIK), a rising star on the blockchain, is gaining attention for its impressive trajectory in the decentralized finance (DeFi) space. ...

Solana Price Hits Major Support Level at $141: Potential Rebound Ahead

Solana has been on a downward trajectory for the last month, with its price recently hitting $141.3, a low for...