This Dogecoin Rival Could Go Higher Amid Increased Whale Activity, Says Analytics Platform Santiment
New data from the market intelligence firm Santiment reveals that Dogecoin (DOGE) rival Shiba Inu (SHIB) could skyrocket as whale activity around the meme asset increases.
In a new analysis, Santiment says that historically, deep-pocketed investors making moves worth over $100,000 have predated peaks in prices for digital assets.
“History has shown that seismic upticks in $100,000 whale transactions often come just before prices peak. One of the most telling examples occurred in December 2017, when Bitcoin hit nearly $20,000 for the first time. On December 13, 2017, the number of whale transactions soared to a then-record-breaking amount of 62,317 in a single day, signaling major profit-taking by large investors.”
While this could mean an ensuing crash is coming after the rise in price, Santiment says whale activity doesn’t always necessarily mean this is the case, as high-net-worth investors tend to also purchase during dips rather than sell.
“Sometimes they can be used to find price bottoms, as whales show signs of accumulation. One such moment came following the crash of early May 2021.
While most retail traders were in a flat-out panic after Bitcoin dropped ~45% between May 8 and May 18, 2021, Santiment data showed sudden spikes in whale activity. Instead of selling, whales were buying the dip.”
The crypto analytics firm goes on to say that SHIB currently appears to be in the midst of a whale-driven rally.
“The second-largest meme coin in cryptocurrency may be heavily overshadowed by Dogecoin and other various smaller speculative assets these days. But this latest spike of 527 whale transactions on June 5, 2025, was the largest in five months.
Since this time, the coin’s market value has grown by 10%. Based on what we know about sudden spikes in whale activity as prices are falling, this could be a good sign that it’s just the beginning of a further price rally.”
SHIB is trading for $0.000012 at time of writing, a 5.5% decrease on the day.
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