Saad Ullah
Something's going seriously wrong with Shiba Inu right now. The meme coin that used to move trillions of tokens daily just saw its trading volume absolutely collapse. We're talking about a drop from 16.42 trillion SHIB on June 16th to a measly 73.197 billion tokens in the last 24 hours. That's not just a dip – that's a free fall that has everyone asking what the hell is happening.
SHIB (Shiba Inu) Price Action Looks Pretty Ugly Right Now
Let's be honest – SHIB's chart isn't doing anyone any favors. The token is sitting around $0.0000107 after almost touching that scary $0.000010 level that nobody wants to see. It's broken below all the important moving averages (50, 100, and 200-day), which basically means the trend is pointing straight down.
The RSI is hanging out below 40, which tells us buyers just aren't showing up. Every time SHIB tries to bounce back, it gets smacked down pretty quickly. The volume has dried up too, and there's zero sign of big money stepping in to buy the dip. Those old support levels around $0.000012 and $0.0000134? They're now acting like walls that SHIB can't seem to break through.
Shiba Inu (SHIB) Whales Are Basically Gone
Here's where things get really concerning. According to IntoTheBlock's data, SHIB's large transaction volume has completely tanked. We went from seeing 16.42 trillion tokens moving around on June 16th to just 73 billion tokens in recent trading. That's a 99%+ drop in whale activity, which is honestly pretty shocking.
When whales stop playing, regular traders usually follow. The fact that SHIB's price is falling right alongside this massive drop in big transactions isn't a coincidence. It looks like the smart money is heading for the exits, and that's never a good sign for any crypto, especially a meme coin that depends on hype and big moves.
SHIB (Shiba Inu) Needs a Miracle to Turn Things Around
For SHIB to get back on track, two things need to happen: trading volume needs to come back, and whales need to start buying again. Right now, neither of those things looks likely to happen anytime soon.
The meme coin space is brutal, and SHIB is learning that the hard way. Without those massive daily transactions that made it special, it's starting to look like just another struggling token in an oversaturated market. The next few weeks will probably decide whether SHIB can pull itself out of this hole or if it's going to keep sliding down the rankings.
Bottom line: SHIB is in trouble, and it's going to take more than a few tweets and memes to fix this mess.
Saad Ullah
