Shiba Inu (SHIB) has registered a 12% price rebound fueled by heightened whale transactions, though diminished trading activity casts uncertainty on the rally’s endurance. The memecoin currently trades at $0.00001368, marking a 5.77% daily increase.
Blockchain analytics indicate whale engagements surged over 525% within two days, featuring multiple transfers valued between $1 million and $10 million. Conversely, trading volume plummeted 28.44% to $228.63 million – a contraction potentially undermining SHIB’s upward trajectory.
Separately, developer Kaal Dhairya’s proposal for community-elected ‘SHIB President’ positions encountered opposition from factions questioning the initiative’s structure and purpose, highlighting governance divisions.