Shiba Inu drops 24% in two weeks as broader crypto market loses $280 billion.
Whales add 700 billion tokens while retail investors accumulate 1.48 trillion SHIB.
Calculations show path to $1 million with strategic accumulation at current prices.
Shiba Inu’s recent price collapse has triggered a substantial accumulation phase among both whale and retail investors, presenting a potential opportunity for strategic entries as large holders position for future price appreciation. After reaching a high of $0.00001566 on March 26, SHIB has experienced relentless selling pressure, contributing to a 24% decline over the past two weeks.
This downturn, however, is not isolated to Shiba Inu alone. The broader cryptocurrency market has shed over $280 billion in total valuation since late March, placing SHIB among numerous digital assets caught in the market-wide correction. Despite this challenging price environment, on-chain data reveals that significant accumulation is occurring across multiple investor segments.
Shiba Inu Whales Ramp Up Holdings
According to data from IntoTheBlock, whale addresses holding over 1% of SHIB’s circulating supply have increased their holdings by approximately 700 billion tokens since March 26, bringing their collective balance to 575.81 trillion SHIB. This represents 58.41% of the total supply, highlighting the considerable influence these large holders have over the token’s market dynamics.
Even more impressive is the activity among retail investors, who have added a substantial 1.48 trillion SHIB to their wallets during the same period. These smaller holders, each controlling less than 0.1% of the total supply, now collectively own 254.84 trillion tokens. Interestingly, medium-sized investors holding between 0.1% and 1% of the supply have reduced their positions, suggesting a polarization in accumulation strategies.
This accumulation behavior appears driven by ambitious price targets circulating within the Shiba Inu community. Last October, Changelly analysts projected that SHIB could reach $0.00009 by late 2028, while analyst Big Mike suggested in May 2024 that the token could potentially hit $0.0005, representing significant upside from current levels.
For investors with million-dollar aspirations, the current price dip creates opportunities to accumulate the necessary token quantities at lower capital requirements. At SHIB’s current price of approximately $0.00001196, an investor would need to purchase 11.11 billion tokens at a cost of $132,888 to achieve a $1 million position should the price reach the $0.00009 target.
Those with a more optimistic outlook targeting the $0.0005 level would need just 2 billion SHIB, currently valued at $23,920. If realized, this would represent a staggering 4,080% return on investment, transforming a relatively modest capital commitment into seven figures. However, investors should note that these projections depend entirely on SHIB reaching these ambitious price points, which remains speculative.