Shiba Inu (CRYPTO: SHIB) exploded 27% the previous week as token burns hit a one-year high—yet whales used the crowd’s excitement to quietly exit their positions, according to data by analytics firm Santiment.
What Drove The 27% Weekend Rally?
SHIB’s surge came alongside a broader crypto market recovery, with Bitcoin (CRYPTO: BTC) holding key technical levels and providing a tailwind for the broader space, according to LuckSide Crypto’s YouTube analysis.
Moreover, volume over the past 24 hours hit $358 million, outpacing all similarly sized assets.
After the price move, SHIB’s official X account posted a bull herd image captioned “Looks like the bulls found their leader.”
Crypto commentator David Gokhshtein said the two-day move made him more bullish on OG crypto culture returning, with SHIB firing back: “OG culture never left. Neither did SHIB.”
What Santiment’s Data Says About The Rally
Santiment flagged the pattern on X — social dominance hit 0.084%, the highest since April 2, while whale transactions reached 52 in one day, the most since March 31.
However, retail traders chased the excitement near the top, giving larger holders exactly the liquidity they needed to exit.
“As usual, especially with memecoins, take profit when retail FOMO starts surging across your timelines,” Santiment wrote.
Why Did Burns Explode To A 365-Day High?
LuckSide Crypto said that 1.125 billion SHIB burned in a single day followed by 1.092 billion the next, the highest burn rate in a full year.
The catalyst is Woof Swap V3, a SHIB-focused token launchpad where every token pairs exclusively with SHIB and trades on Uniswap V3, burning SHIB automatically with each transaction.
The first token launched on the platform drove the bulk of the burn activity, with community burns joining in as the price climbed — something that tends to happen every time SHIB has a strong run.
Exchange supply only saw roughly 100 billion SHIB returned to exchanges despite the size of the pump, pointing to most holders sitting tight rather than rushing to sell.
SHIB Key Support And Resistance Levels Ahead
| Level | Price (USD) | Type |
| Major Resistance | $0.0000067 | Swing high |
| Resistance | $0.0000057 | 0.618 Fib |
| Resistance | $0.0000054 | 0.5 Fib |
| Key Pivot | $0.00000503–$0.00000505 | Breakout retest zone (0.382 Fib + 100 EMA) |
| Support | $0.0000046 | 50 EMA |
| Major Support | $0.00000405 | Range low |
Image: Shutterstock
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