The popular Shiba Inu (SHIB) cryptocurrency has seen disturbing developments in the behind-the-scenes reality of the crypto market. According to IntoTheBlock, the total amount of Shiba Inu tokens sent from wallets by major token holders in the past 24 hours reached 7.48 trillion SHIB. In comparison, the outflow from whale addresses the previous day was only 1.05 trillion SHIB, increasing more than 7 times, with a growth rate of 712.38%.
It should be clarified that only addresses holding at least 0.1% of the circulating supply of Shiba Inu tokens are considered. Interestingly, the inflow to these wallets also increased that day, reaching 7.41 trillion SHIB—an increase of 89.5% compared to the previous day.
However, this is still not enough for the big buyers to gain an advantage, resulting in a net flow figure during the reporting period dropping from 2.86 trillion SHIB to -72.77 billion SHIB. Shiba Inu (SHIB): Price Outlook The reason for this change in sentiment can be found in the price chart of the popular meme-inspired cryptocurrency. Over the past day, the price of SHIB has fallen by 8.24% from its daily high to stabilize at a daily low of $0.000023.
However, it can be seen from the chart that the whales' sell-off in this area was due to the threat of further declines in the token's price, which indeed reached the edge at that time. In this case, most people decided to sell the Shiba Inu tokens that had a profit rate close to 80% since early November, which seems natural.
Additionally, due to the recent rise, the SHIB price failed to break through the previous local highs, forming a second tower on the chart, which is also an ominous pattern.
