While SHIB shows stronger weekly performance than its peers, traders are now watching to see if its declining onchain activity and absence of large wallet interest will affect its position.
SHIB leads a down market for memecoins
SHIB was the weekly leader among memecoins, managing to outperform competitors like TRUMP, which fell
↘6%
, and the broader sector's average decline of
↘7%
. This relative strength was accompanied by a
↗42%
surge in daily trading volume, ranking SHIB in the top five for its category.
Onchain activity shows recent slowdown
In contrast to its market performance, delayed onchain data shows a
↘64%
drop in trading volume and a
↘36%
decrease in unique traders. Recent activity was exclusively driven by very small individual trades, with no participation detected from large wallets.
The token has a history of major milestones
Historically, SHIB has reached several notable achievements, including growing to 1 million holders
. Past events also saw a trading surge of over
2 trillion SHIB in volume and a major increase in its token
burn rate.