Shiba Inu Whale Activity Plunges
Over the past 48 hours, Shiba Inu (SHIB) has witnessed a dramatic decline in large transaction activity, signaling a retreat by major investors. This significant decrease in whale involvement could influence SHIB's price trajectory.
Key Findings: Shiba Inu Whale Activity
- Large Transactions Decreased: A 66.15% drop in large transactions in 48 hours, reaching a two-week low.
- Whale Inflow/Outflow Plummeted: Whale outflow dropped from 2.06 trillion to 221.6 billion, while inflow fell from 2.4 trillion to 271.9 billion. Both represent a decrease of over 2 trillion.
- Price Impact: SHIB's price is currently trading at $0.00001429, down 5.65% in 24 hours. Six consecutive days of lower lows indicate sustained selling pressure.
- Technical Indicators: The RSI shows a bearish crossover, and a negative volume delta indicates stronger selling volume (2.58 billion) than buying volume (2.43 billion).
Analysis: What's Driving the Drop in Shiba Inu Whale Activity?
The sharp decrease in large transactions suggests a lack of conviction in the market. Whales are seemingly hesitant to buy or sell at current prices, indicating uncertainty about SHIB's near-term outlook. Retail traders appear to be leading the selling pressure, further contributing to the negative price action.
Price Prediction: Crucial Support Level for SHIB
If SHIB fails to close above $0.00001478, a further decline towards $0.00001387 is possible. A sustained daily close above $0.00001478 would be necessary to signal a potential reversal of the current bearish trend. Buyers need to regain confidence to drive any meaningful upward momentum.
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