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Shiba Inu (SHIB) Whales Selling En Masse: What's Happening?
On-chain data shows a noticeable change in investor behavior, which has put a lot of pressure on Shiba Inu recently. As can be seen from the provided chart, the price has had difficulty maintaining its upward momentum and is currently trading around $0.00002413. The behavior of large SHIB holders is where the real story is found, though.
Addresses with between 10 million and 100 million SHIB tokens have significantly decreased, according to on-chain metrics which show a 20% drop over the studied period. In the same way, wallets holding $10,000 to $1 million in SHIB have decreased by 16 to 22 percent. This pattern highlights a pronounced sell-off among high-value holders, which may indicate waning trust in the asset or calculated profit-taking at the current price.
In contrast, addresses holding $1-$1,000 worth of SHIB have increased by 7-25%, suggesting that smaller retail investors are taking over. The discrepancy between whale exits and retail accumulation raises questions about market stability even though it indicates continued retail interest.
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Trading volume is still low, which adds to the bearish signals and indicates a lack of enthusiasm on the market as a whole. There is indecision among traders as the RSI (Relative Strength Index) is lingering close to the neutral 50 level. This makes it even more difficult for SHIB to surpass its current range when combined with low volume. Future critical resistance is located at $0.00002555, the area where whale activity was concentrated in the past.
The price may move toward important support at $0.00002200 if SHIB is unable to recover this level. A sustained recovery would probably necessitate a spike in trading activity along with renewed interest from institutional and large-scale investors. The current whale sell-off warns Shiba Inus to exercise caution.
Although there is still retail interest, SHIB's course in the upcoming weeks will depend on how well the larger market can withstand these sell-offs. For additional clarity, investors should keep a close eye on volume levels and important price thresholds.
Addresses with between 10 million and 100 million SHIB tokens have significantly decreased, according to on-chain metrics which show a 20% drop over the studied period. In the same way, wallets holding $10,000 to $1 million in SHIB have decreased by 16 to 22 percent. This pattern highlights a pronounced sell-off among high-value holders, which may indicate waning trust in the asset or calculated profit-taking at the current price.
In contrast, addresses holding $1-$1,000 worth of SHIB have increased by 7-25%, suggesting that smaller retail investors are taking over. The discrepancy between whale exits and retail accumulation raises questions about market stability even though it indicates continued retail interest.
card
Trading volume is still low, which adds to the bearish signals and indicates a lack of enthusiasm on the market as a whole. There is indecision among traders as the RSI (Relative Strength Index) is lingering close to the neutral 50 level. This makes it even more difficult for SHIB to surpass its current range when combined with low volume. Future critical resistance is located at $0.00002555, the area where whale activity was concentrated in the past.
The price may move toward important support at $0.00002200 if SHIB is unable to recover this level. A sustained recovery would probably necessitate a spike in trading activity along with renewed interest from institutional and large-scale investors. The current whale sell-off warns Shiba Inus to exercise caution.
Although there is still retail interest, SHIB's course in the upcoming weeks will depend on how well the larger market can withstand these sell-offs. For additional clarity, investors should keep a close eye on volume levels and important price thresholds.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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