𝐑𝐞𝐭𝐚𝐢𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐒𝐭𝐞𝐩 𝐈𝐧💎
💸Recent on-chain data reveals a significant shift in investor behavior, placing Shiba Inu (SHIB) under notable selling pressure. The cryptocurrency, currently trading near $0.00002413, has struggled to sustain its upward trajectory. However, the actions of large-scale SHIB holders—often referred to as "whales"—paint a more telling picture.
🔥Notably, wallets holding between 10 million and 100 million SHIB tokens have seen a sharp decline, dropping by 20% during the observed period. Similarly, larger holders with balances ranging from $10,000 to $1 million in SHIB have decreased by approximately 16-22%. This trend indicates a significant sell-off by major investors, potentially signaling reduced confidence in the asset or a strategic move to secure profits at current price levels. On the flip side, smaller investors have shown growing interest, with addresses holding $1 to $1,000 worth of SHIB surging by 7-25%. This divergence underscores the growing involvement of retail participants, although it also raises concerns about market stability.
💥Adding to the bearish sentiment is the subdued trading volume, reflecting a lack of overall enthusiasm in the market. The Relative Strength Index (RSI) hovers near the neutral 50 mark, suggesting indecision among traders. Without a surge in trading activity, SHIB faces challenges in breaking above its critical resistance at $0.00002555—a level previously associated with heightened whale activity. Failure to reclaim this range may see SHIB testing crucial support at $0.00002200.
🚨Moving forward, a meaningful recovery for SHIB will likely depend on renewed interest from institutional and large-scale investors, alongside an uptick in market participation. While retail investors continue to show optimism, the broader market's ability to withstand this whale-driven sell-off will determine SHIB's trajectory in the coming weeks. Monitoring trading volume and key price thresholds will be crucial for navigating the uncertainty.
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