Shiba Inu Price Drops After Brief Rally, Whale Activity Indicates Caution

The meme token Shiba Inu (SHIB) experienced a temporary price surge on May 21st, followed by a significant reversal as whale activity turned bearish. Data from CoinDesk Research suggests the SHIB price peaked at $0.00001492 before retracing 1.9% in the final hour, according to their technical analysis model. Despite this brief rally, on-chain indicators reveal a concerning trend among large holders. 311% drop in whale netflows and a 68% decline in active addresses from December 2024 highlight reduced engagement and transactional momentum.