On the occasion of Ethereum's tenth anniversary celebration, Shiba Inu (SHIB), as a senior representative of its ecosystem's Meme coins, has demonstrated impressive market performance. From late June to mid-July, the value of SHIB surged by nearly 50%, a rise largely attributed to a significant increase in on-chain activities and renewed investor interest in Meme coins.

Market analysis shows that large investors, commonly known as "whales", have significantly increased their SHIB holdings during this period. According to a report from the blockchain data analysis platform Nansen, the number of wallets holding over 1 million USD worth of SHIB has increased by 4% within a month. The influx of these large funds has directly driven the price increase of SHIB. As of the latest data, these major investors collectively hold over 109.6 billion SHIB, providing a solid foundation for the price rise.

The price of SHIB peaked at $0.00001597 on July 22, marking the highest point of this market cycle. However, as the market enthusiasm gradually waned and the overall atmosphere for Meme coins cooled down, SHIB's price also experienced a certain degree of correction. Currently, its trading price is about $0.00001313, down 16% from the peak.

The recent price fluctuations of SHIB are mainly influenced by the capital flows of large investors and changes in overall market sentiment. For investors interested in participating, it is advisable to closely monitor the movements of major holders as well as overall market trends, adopting a cautious investment strategy to avoid blindly chasing highs.