🐾 Shiba Inu ($SHIB ) Under Pressure: Whale Activity Soars by 712%! 🐾
Shiba Inu (SHIB), one of the most popular meme cryptocurrencies, is seeing unsettling developments as whale activity skyrockets. New data reveals a massive 712% increase in whale sell-offs, with a staggering 7.48 trillion SHIB being liquidated in just 24 hours! 🐋💥
Key Insights:
• Whale Sell-Offs: Major holders (0.1% of supply) are unloading significant amounts, raising concerns about SHIB’s market stability. 📉
• Whale Inflows: At the same time, whale wallets saw 7.41 trillion SHIB in inflows—an 89.5% increase from the previous day! ⚡
• Netflow Drop: Despite the inflows, SHIB’s netflow is now negative, plunging to -72.77 billion SHIB, signaling growing bearish sentiment. 🚨
Price Action:
Over the last 24 hours, SHIB saw an 8.24% decline, stabilizing around $0.000023. After an 80% surge since November, the recent price action suggests a potential double top pattern, which is bearish for the token. ⬇️
📊 Market Sentiment:
• Bearish Pressure: Increased whale sell-offs and bearish chart signals indicate heightened volatility ahead.
• Cautious Approach: SHIB’s struggle with key resistance levels suggests uncertainty in the short-term.
🔑 Key Takeaways:
• Whale Activity Surge: Indicates rising selling pressure. 🐋
• Volatility Risk: SHIB’s high volatility could bring further corrections. ⚠️
• Monitor Support Levels: Watch for potential tests of support zones as SHIB navigates uncertain waters.
📉 Investors, be cautious: With whales exiting and technicals turning bearish, now may not be the time for blind optimism. Stay vigilant and make informed decisions! 💡
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