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Which I've done in past and got 5* Rulk, so don't.
If u can get top 10% every 4* featured arena for the month, that's 8x400=3200 5* shards. With 8x800=6400 4* shards and assuming you dupe your 3 4* champs, you get another 775 5* shards, that's 3975 5* shards! Not to mention if u bother being the most addicted grinder and grind the top 10% reward for the 4* basic arena, that's 1600 5* shards a month, giving you 5575 5* shards just from arena.
Yep, just from arena, we haven't counted in the monthly quest, the AW rewards, the summoner advancement, etc. Plenty of ways to get those 5* shards
completing event quests.
given that you haven't received your first 5* yet, you're probably in the lower brackets. If you've played less than 3 months, get in the arena now and win.
Are you able to at least get 2.2 million in the Featured Arena? That's 200 5* shards, which will add up over time. As others have said, getting 4.7 million and getting into the top 10% will get you 400 5* shards.
Slightly easier is getting 1.75 million in the basic arena. That will also get you 200 5* shards. For someone who doesn't have any 5*s yet, that's probably the least work for the most 5* shards.
Arenas also give you units, which you can use to occasionally buy good deals that have 5* shards.
Are you in a good alliance? If your alliance can get into the rank rewards every week, or at least every two weeks, that will give you a good supply of shards.