Shiba Inu Whale Acquires 1.23 Trillion SHIB – Is a Significant Rally Starting?

Despite the current sharp decline in the value of Shiba Inu (SHIB), it has not deterred whales from acquiring the token in significant quantities.

Recently, one whale was observed on-chain transferring over $20 million worth of Shiba Inu from their Kraken account into self-custody.

1,239,940,928,235 #SHIB (20,136,020 USD) transferred from #Kraken to unknown wallet https://t.co/PxsHyZ8BcD

— Whale Alert (@whale_alert) February 5, 2025

This substantial purchase follows the announcement earlier this week that Shiba Inu has formed a partnership with the UAE to promote web3 adoption.

The Ministry of Power and Infrastructure @MOEIUAE in the United Arab Emirates has declared a strategic partnership with the @Shibtoken “Shiba” (Shiba Inu) digital currency project, aimed at fostering innovation and digital technologies in the fields of infrastructure and… pic.twitter.com/DmSj6MVUgb

— Tech Valley (@TechValleyUAE) February 4, 2025

The Shiba Inu price was last around $0.000015, nearly 30% higher than Monday’s lows in the mid-$0.000011s, but down over 55% from the peaks reached in late 2024 in the $0.000033 range.

The meme coin, along with the wider crypto market, has faced significant pressure from bearish factors in recent weeks.

In mid-January, Trump launched his meme coin, draining considerable liquidity from the altcoin market and impacting meme coins particularly hard.

A week and a half ago, the market reacted anxiously to DeepSeek and its effects on US tech valuations, while this week’s concerns were related to Trump potentially initiating trade wars.

Nevertheless, the observation of whales purchasing during this dip suggests that conditions may be on the verge of improving for Shiba Inu.

Will SHIB Recover From Here?

During Monday’s rapid crypto market crash and subsequent recovery, the Shiba Inu price reached a low of approximately $0.00001150.

Analysis of the SHIB chart over the past year indicates that this may have represented SHIB testing the bottom of its long-term range, marking a potential local price bottom.

However, examining SHIB on the daily candlesticks reveals that, at the start of February, the meme coin lost its hold on its 200DMA, which has served as a crucial area of support/resistance over the past year.

This suggests a bearish shift in market momentum and indicates that a retest of recent lows may be forthcoming.

The outlook for meme coins has certainly become more uncertain in recent weeks since the launch of Trump’s meme coin affected market sentiment.

Some viewed the launch as a “top signal,” while others feared it could trigger a wave of new meme coin launches from other prominent brands and personalities, leading to dilution of existing meme coin names like SHIB.

The strong performance of the meme coin market in 2024 compared to other major altcoins has also raised concerns regarding potential “over-valuation” in the sector.

According to CoinMarketCap, SHIB’s market cap was last around $8.8 billion.

While Shiba Inu boasts a large community of investors, advocates, and developers who are actively working to expand its web3 presence, this represents a substantial market cap for any meme coin.

Although this does not imply that Shiba Inu cannot perform well in the future, it does suggest that its upside potential may be limited compared to newer meme coins with lower market capitalizations and strong momentum.

MIND of Pepe a Better Alternative?

One such new meme coin that shows considerable upside potential is MIND of Pepe (MIND).

Unlike 99% of recent meme coin launches, MIND of Pepe is not merely another ineffective token; it represents a convergence of AI and meme culture, promising genuine utility.

Launched on Ethereum, this innovative project has already raised over $5 million in its presale, demonstrating strong investor interest.

5 Million. $MIND pic.twitter.com/1KxS5POtd2

— MIND of Pepe (@MINDofPepe) February 4, 2025

What distinguishes MIND is its AI agent that autonomously analyzes crypto trends and social media sentiment, providing holders with exclusive insights and potential early access to new token launches.

With staking rewards reaching up to 423% APR, early investors stand to benefit significantly. Experts like ClayBro are discussing MIND, predicting it could experience a 20x increase.

Their confidence arises from the token’s unique combination of AI technology and the viral appeal of meme coins, potentially transforming how crypto investments are approached. This could be the next significant mover in the meme coin space.

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