As geopolitical tensions escalate following Israel’s recent airstrikes on Iran, crypto markets have experienced sharp declines. Despite the widespread uncertainty, Shiba Inu (SHIB) has emerged as a frontrunner in crypto whale accumulation, according to on-chain data from Santiment.
Whale Accumulation Spikes Amid Market Volatility
Large-wallet activity has surged across several altcoins—including SHIB, Ankr, and LCX—even as broader markets remain unstable. Santiment reports that the uptick in high-value transactions may signal strategic repositioning by whales, often a precursor to trend reversals.
Notably, Shiba Inu recorded 527 whale transactions on June 5, marking its highest single-day whale activity in over five months. Interestingly, this occurred during a price dip, which analysts believe could indicate early-stage accumulation ahead of a potential rally.
Ankr (ANKR) and LCX also showed signs of renewed whale interest. ANKR saw eight $100,000+ transactions on June 8 after a 23% monthly decline, while LCX logged its highest whale activity since February, following a 31% drop and a recent 8% rebound.
Signs of Whale Dumping in Other Tokens
However, not all altcoins are attracting accumulation. Santiment flagged potential whale dumping in tokens like SPX6900, Compound (COMP), and UMA.
SPX6900, a viral meme coin, saw 134 large transactions on June 9—likely reflecting profit-taking behavior after a massive 486% gain over three months. Compound also recorded a spike in large transfers, raising concerns about short-term overbought conditions following its double-digit rally. UMA followed suit, with 27 large whale transactions just after its 52% surge from June 5–8, hinting at a possible local top.
Shiba Inu Stands Out
While some tokens face profit-taking pressure, Shiba Inu (SHIB) continues to lead in crypto whale accumulation, even amidst global geopolitical chaos. Its consistent whale interest during periods of price weakness could position it for a breakout should market conditions stabilize.
