Shiba Inu (SHIB) whales woke up: Selling pressure may come!

The increasing activity in the memecoin market was reflected in Shiba Inu (SHIB) whale activities.

Shiba Inu (SHIB) experienced a decline with the increasing transfer transactions of whales. On October 7, 1.3 trillion SHIB were sent to central crypto exchanges. On October 6, 789 billion SHIB were transferred. Not only whales, but also individual investors' increasing transfer transactions aroused curiosity.

On Monday, 943.89 billion SHIB were withdrawn from exchanges to external wallets. In return, a net inflow of 358 billion Shiba Inu was recorded. This development means that more tokens were deposited into exchanges than withdrawn, which increases the selling pressure on Shiba Inu. As of today, Shiba Inu investors sent 366.97 billion Shiba Inu to exchanges, which is less than the previous day.

Currently, Shiba Inu is trading at $0.00001755, down 3% today, continuing its negative trend from last week. Shiba Inu is facing a resistance level of $0.00001800. If the popular memecoin breaks above this level, it could signal a potential for a larger market rally. Analysts see the $0.00002000 band as critical. If this level is exceeded, expectations for a Shiba Inu rally may increase.

The course of the memecoin market will be important during this process. If memecoins fall, selling pressure will increase in Shiba Inu. With the strengthening of the memecoin trend, it is highly likely that money inflows into tokens such as $DOGE , $PEPE , $WIF , FLOKI , and SHIB will increase.