Shiba Inu (SHIB) Sees Decline in Whale Activity as Sell Pressure Increases

Shiba Inu (SHIB) is experiencing a decrease in whale activity as sell pressure grows, leading to a decline in the coin’s value. Currently trading at $0.0000152, SHIB has fallen by almost 10% in the past week. In order to prevent further losses, large holders of SHIB have reduced their trading activity. On-chain data reveals that the netflow of SHIB from large holders to exchanges has dropped by over 500% in the last seven days. This suggests that large holders are withdrawing their tokens from exchanges, potentially to hold them for a longer term or due to market uncertainty. The strategy of the whales is understandable, as the decline in SHIB’s price has resulted in significant losses for daily traders. An analysis of the coin’s ratio of daily transaction volume in profit to loss shows that more transactions have resulted in losses than profits in the past week. Furthermore, SHIB’s price has fallen below its 20-day exponential moving average (EMA), indicating a sustained decline in buying pressure. If this trend continues, the value of SHIB may dip to $0.0000151. However, if there is a price rebound supported by sufficient demand, the coin’s value could climb to $0.0000185.