I don't think so personally, whales buying large quantities not only Shiba, they buying large a lot of different things besides Shiba simply because they can and by diversify their portfolio they increase chances of striking Gold in some of their investments which will justify their losses everywhere else. It's just good investment plan generally speaking.
You better believe it!! When they open their wallet for a multi million purchase, I'll bet my life right NOW, they see and know a hell of a lot more than we do when we buy.