First, let’s take a look at the price movement over the past 30 days. Shiba Inu has decreased by 40% in the last 30 days. Other meme coins like Doge decreased by 30% while a Layer-1 blockchain like Solana also decreased by 50%.
Top Shiba Inu Whales
Despite this massive fall, the first 5 whales together added more than 5% to their balance. However, the behavior was not consistent. Two of the whales reduced their balance while 2 added to their balance. A third did not make any changes. See the table below
| Whales name | Number of tokens currently owned | Change in token balance in 1 month | |
| 0x72a53cdbbcc1b9efa39c834a540550e23463aacb | 33 trillion | -1 trillion | |
| 0xcffad3200574698b78f32232aa9d63eabd290703 | 21 trillion | -0.5 trillion | |
| 0x2efb50e952580f4ff32d8d2122853432bbf2e204 | 12 trillion | +5.7 Trillion | |
| 0x422193843fe209faa94f5cc1780e04965e77cb7f | 11 trillion | +0.6 trillion | |
| 0x1406899696adb2fa7a95ea68e80d4f9c82fcdedd | 10 trillion | No change | |
| Top 5 Whales | 87 trillion | +4.8 Trillion |
Main points to note – The increase or decrease in Top Whale purchases has made no difference to the price over the past 30 days. Our analysis suggests that whales may play a critical role in launching or supporting a pump, but if external metrics are not in favor of a cryptocurrency, whale sales or purchases can only have limited impact.