Shiba Inu (SHIB) has been on something of a rollercoaster lately. The meme coin is up nearly 7% over the past week, which sounds encouraging until you zoom out and see the 14% decline over the past month. Now, whale activity has reached levels not seen since June, and that's got traders bracing for turbulence.

Whales Are Making Moves: On-chain analytics platform Santiment is waving a caution flag here. Shiba Inu recorded 406 transactions over $100,000 today, a massive jump from fewer than 50 back on June 6, 2025. That's not subtle.

This spike coincides with a surge in SHIB moving onto centralized exchanges. Over the past 24 hours alone, exchange reserves increased by 1.06 trillion SHIB, bringing total holdings on exchanges to 136.95 trillion SHIB. When large holders start positioning like this, it usually means something's about to happen, and that something typically involves price volatility.

The Burn Factor: There's a bit of positive news in the mix. According to Shibburn, SHIB's burn rate spiked 248% in the last 24 hours, permanently removing 14.3 million SHIB from circulation. Rising burn activity reduces supply over time, which can support bullish momentum if demand holds steady. Whether that's enough to offset whale selling pressure remains the big question.