By Km Fazi 
The Shiba Inu (SHIB) price experienced a sharp decline, falling to an intraday low of $0.000007683, triggering renewed bearish sentiment across the meme coin market. The sudden drop followed the movement of hundreds of billions of SHIB tokens by a large whale, raising fears of a potential sell-off.
The price decline marked one of SHIB’s steepest single-day pullbacks in recent weeks, coinciding with broader weakness across the crypto market.
Why the Shiba Inu Price Crashed
On-chain data suggests that heavy whale activity played a central role in SHIB’s recent downturn. According to Arkham Intelligence, a whale wallet identified as 0x2d0…9f7bB transferred 210.36 billion SHIB tokens, worth approximately $1.63 million, to Robinhood.
Notably, this transaction accounted for nearly 97% of the whale’s total SHIB holdings, sparking speculation that the tokens were moved to the exchange in preparation for selling.
Additional Arkham data revealed that the same wallet later transferred:
- 1.52 billion SHIB to Robinhood
- 7 billion SHIB to liquidity provider B2C2 Group, potentially via an over-the-counter (OTC) deal
Following these transactions, the whale’s remaining balance dropped to just 5.86 billion SHIB, valued at roughly $46,790.
As a result of the selling pressure, SHIB has declined by more than 7% over the past week, with the sharpest drop occurring during the whale transfers.
Broader Market Sell-Off Added Pressure
The SHIB price crash was further amplified by weakness in the wider crypto market, led by Bitcoin (BTC). BTC briefly fell to $87,000, dragging altcoins and meme coins lower.
The sell-off was fueled by macro uncertainty linked to trade tensions between the United States and Europe, following reports surrounding Greenland-related tariffs proposed by former U.S. President Donald Trump. However, markets rebounded later in the day after Trump confirmed the tariffs had been canceled following negotiations involving NATO.
Despite the short-term decline, Shiba Inu remains up more than 15% year-to-date (YTD), ranking among the stronger-performing crypto assets in 2026 so far. Still, SHIB continues to trade well below its all-time high of $0.00008845, leaving a wide gap between current levels and historical peaks.
SHIB Exchange Netflows Show No Clear Accumulation Trend
On-chain metrics indicate mixed signals regarding SHIB accumulation. Data from CryptoQuant shows that current exchange netflows remain inconsistent.
- Today’s netflows are negative, exceeding 7 billion SHIB, suggesting more tokens are moving into exchanges, typically a bearish signal.
- However, yesterday’s netflows were positive at 1.6 billion SHIB, implying some withdrawal activity consistent with accumulation.
- On January 16, positive netflows reached 115 billion SHIB, but these were later offset by 214 billion SHIB in negative netflows recorded on January 20.
This back-and-forth movement suggests that neither bulls nor bears have full control of SHIB’s near-term price direction.
Traders Remain Optimistic Despite Volatility
Despite recent price weakness, derivatives data suggests that traders remain cautiously bullish. According to CoinGlass, SHIB’s long/short ratio is currently above 1, indicating more traders are betting on upside than downside.
Additionally:
- Derivatives trading volume has increased by over 20%
- Open interest is up nearly 3%, reflecting renewed speculative activity
At the time of writing, Shiba Inu is trading around $0.000007978, posting modest gains over the past 24 hours, according to CoinMarketCap.