Shiba Inu holders $SHIB are locking in profits
Data from IntoTheBlock on the on-chain indicator Global In/Out of the Money shows that 62% of all meme coin holders (851 thousand addresses) are currently in the profit zone. They own about 829 trillion SHIB. At the same time, 82.39 trillion tokens belonging to 398 thousand addresses are in the loss zone.
Since more than half of all Shiba Inu holders are currently making a profit, they are actively locking in gains. This creates increased selling pressure on the coin. The activity of sellers is reflected in the Chaikin Money Flow (CMF) indicator. At the time of writing, it has already decreased to 0.08 and continues to move north towards zero.
Such dynamics mean that buyers are losing their edge. In such conditions, the cryptocurrency risks losing its bullish momentum. Analysis of the MACD indicator also paints bearish prospects. Currently, the MACD line (blue) is below the signal line (orange). This positioning predicts an imminent trend reversal, in the case of SHIB — a shift from bullish to bearish.
