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.
