Surprise! Shiba Whales Disappeared, Only 1.4 Trillion SHIB Tradedđ„đ„đ„
Shiba Inuâs price has been weak recently and is far from bullish or positive. The asset failed to hold the local support level of around $0.000025, indicating a disconnect from the market. Large transactions by whales clearly show that the market is not ready to enter the growth phase.
Recently, Shiba Inu has been affected by strong selling pressure, which caused the price to break through the key support area. The price fell to around $0.0000239 and failed to maintain above $0.000025.
At the same time, the large transaction volume has also declined, indicating a decrease in whale activity. For example, the number of large transactions has dropped from 341 at a seven-day high to 82 in the past 24 hours. This decrease shows that large players or whales are reducing their positions, weakening the buying pressure required to maintain high prices.
The large transaction volume in the past 24 hours was 3.36 trillion SHIB, while the seven-day peak was 5.7 trillion SHIB. This means that, overall, the activity of large holders has eased, which still suggests bearish pressure.
In addition, there are a few points worth noting about the token summary: First, only 61% of holders remain profitable at the price level, while 35% are in a loss. The concentration of large holders is still high at 73%, but the decrease in trading volume indicates an increase in the activity of large holders.
Another worrying factor is the potential bearish crossover of the 50-day and 100-day EMAs. A break below this level could increase selling pressure and push SHIB further down to the support low of around $0.000022, and even to $0.000018.
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