A dormant Shiba Inu (SHIB) whale has reactivated after eight months of inactivity, purchasing tokens on Binance as the cryptocurrency’s price touched support levels last seen in 2022. The whale used liquidity on the exchange to absorb SHIB, according to blockchain data.
Whale resurfaces after long pause
The address, which had not moved SHIB since early 2024, suddenly began buying on Binance. The transaction coincided with SHIB’s price falling to around $0.00001, a level that previously acted as a floor during the 2022 bear market. The whale’s activity suggests a large holder saw the price as an entry point.
Details of the exact amount purchased were not immediately available, but the wallet’s balance increased significantly. The move marks the first on-chain activity from this whale in over eight months.
Price tests 2022 support
SHIB has been under pressure in recent weeks, dropping alongside the broader crypto market. The token’s price briefly revisited the $0.00001 zone, a level that held during the 2022 downturn. The whale’s buying on Binance helped absorb some of the selling pressure at that support.
Binance, the world’s largest exchange by volume, provided the liquidity for the trade. The whale’s use of the exchange rather than a decentralized platform is notable, as it may indicate a preference for speed and depth of order books during volatile conditions.
What the whale’s return means
Whale activity is often watched as a signal of market sentiment. A large holder returning after months of dormancy to buy at a key support level can be interpreted as a bet on a price rebound. However, the facts do not reveal the whale’s identity or strategy.
The purchase comes as SHIB faces headwinds from regulatory uncertainty and a risk-off mood in crypto. The token’s price has since recovered slightly from the support level, but remains well below its 2021 highs.
The whale’s next move is unknown. Whether this is a one-time accumulation or the start of a larger position will become clearer if the address continues to trade.
