Shiba Inu (SHIB) turns down immediately after jumping 37 percent over two days.

In this rebound, retail investors increased momentum buying, while transactions by large holders also surged, blockchain outlet U.Today reported on July 27 local time. The market raised the possibility that late-arriving retail funds may have supported profit-taking by existing holders.

According to on-chain analytics firm Santiment, retail interest and momentum buying on social media rose quickly as Shiba Inu's price began to climb. Shiba Inu's social dominance rose to 0.084 percent, the highest since April. However, the point when retail interest started to grow in earnest overlapped with a phase in which the rise had already begun to slow.

Over the same period, large holders also became more active. On the Shiba Inu network, 52 transactions worth $100,000 or more were detected over 24 hours. That was the most since late March.

Santiment analysed that whale investors may have moved to realise profits as public attention increased. It said increased market liquidity from retail momentum buying created conditions for large holders to sell without sharply pushing down prices.

Still, not all transactions of $100,000 or more mean selling. The indicator tracks large fund movements, and the actual direction of trades and whether a final sale occurred must be checked separately.

High wallet concentration in Shiba Inu also drew attention. Etherscan data showed wallets classified as whales account for only 0.05 percent of all addresses but hold 94.64 percent of total supply. The top 5 addresses held 57.56 percent.

The figures include burn addresses and exchange wallets. A total of 41.04 percent of supply is permanently locked in the main burn address '0xdea', while Robinhood, Binance and Crypto.com wallets hold 3.92 percent, 3.42 percent and 2.76 percent, respectively. As a result, wallet concentration does not necessarily mean actual market dominance by a small number of whales.

Price action also shows buying quickly weakened after the surge. Shiba Inu staged a short-term rebound within a long-term downtrend, rising at one point to $0.00000537. Selling pressure then increased, giving back a large part of the gains, and it returned to around $0.00000497, down 6.39 percent on the week.

The move shows that in the memecoin market, the moment when retail interest rises sharply can instead become a phase of increased volatility. In particular, when social media exposure and price jump together, investors should be wary that lagging demand may be used as liquidity for profit-taking by existing holders.