Shiba Inu Price Takes a Hit: Whales Lead the Sell-Off as Bearish Momentum Grows
Shiba Inu Price – Over the past few days, crypto markets have faced significant volatility, resulting in panic across various investor groups, including retailers and whales. As a result, Shiba Inu (SHIB) whales have dramatically increased their selling activity, triggering a notable shift in market dynamics.
Whale Activity Spikes as Sell Pressure Intensifies
According to data from IntoTheBlock, Shiba Inu whales sold a staggering 801.04 billion tokens over the past day, a significant jump from 180.76 billion the day before. This marks a 343.18% increase in outflows from large holders, indicating that whales are actively dumping their holdings rather than accumulating. The netflow for large holders turned negative, sitting at -256.9 billion, which confirms that capital outflows are currently surpassing inflows.
Shiba Inu Price Reacts to Increased Whale-Selling
The heightened sell-off from whales has directly impacted the price of Shiba Inu, which has experienced a drop from a high of $0.00001173 to a low of $0.00001125. As of the latest data, SHIB is trading at $0.00001131. This price movement indicates that the selling pressure from whales is significantly affecting the memecoin‘s price action.
Bearish Momentum Intensifies with Key Indicators in the Red
Technical indicators such as the Stoch RSI and MACD are signaling continued downward momentum. The Stoch RSI has dropped to 3.23 from 11 in just 24 hours, while the MACD line has moved into negative territory, reinforcing the prevailing bearish trend. If the current selling trend persists, Shiba Inu could potentially dip to $0.000010.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
Leave a comment