Usman Salis
Shiba Inu (SHIB) just hit its highest price in two weeks, but long-term holders are moving their coins for the first time in months. On-chain data reveals a concerning pattern that could spell trouble for the meme coin's recent momentum.
SHIB Price Rally Wakes Up the Diamond Hands
Yesterday's pump to a 15-day high got SHIB's long-term holders moving their bags after months of inactivity. The age-consumed metric - which tracks when dormant coins start moving - spiked to 2715.48 trillion, the highest in three months according to Santiment.
Here's why this matters: these diamond-handed investors don't usually budge unless they're planning to take profits. When they start moving coins during a rally, it's often a sign they're getting ready to sell. This behavior historically precedes increased selling pressure that can quickly dampen bullish momentum.
What makes the situation even more concerning is SHIB's Price-Daily Active Addresses divergence sitting at -62.63. This means the price is climbing but actual network activity isn't keeping pace - a red flag that suggests the rally might be built on shaky foundations rather than genuine adoption.
SHIB Price Analysis: Walking a Tightrope at Key Support
Right now, SHIB trades at $0.00001294, barely holding onto crucial support at $0.00001187. This level has been tested multiple times, and if long-term holders keep dumping their bags, that support could crack under pressure. The next significant support zone sits at $0.00001004 - a drop that would wipe out most of the recent gains.
However, there's still a bullish scenario on the table. If fresh buying pressure emerges and the negative divergence reverses, SHIB could rocket to $0.00001408. This would require new retail interest and improved network metrics to support the move higher.
The key resistance levels to watch are psychological barriers around $0.000014 and $0.000015, where profit-taking could intensify.
SHIB Price Outlook: Critical Moment for the Meme Coin
SHIB is at a critical crossroads that could determine its direction for weeks to come. The recent rally looks impressive on paper, but the underlying fundamentals are flashing warning signals that savvy traders can't ignore.
The combination of long-term holders cashing out and weak network activity doesn't exactly scream "sustainable bull run." However, meme coins are known for defying logic, and SHIB has surprised markets before with unexpected rallies driven by social media hype and retail FOMO.
Market participants should keep a close eye on trading volume and social sentiment over the next 48-72 hours. If selling pressure from old holders eases up and network activity starts climbing, SHIB might have room to run toward that $0.00001408 target. If not? Buckle up for what could be a swift ride down to the $0.00001004 support level.
Usman Salis
