Usman Salis
Shiba Inu (SHIB) just saw massive whale movements surge by 248%, but the price keeps dropping. Here's why this might actually be bad news for SHIB holders.
SHIB (Shiba Inu) Whale Activity Goes Through the Roof
Something big is happening with Shiba Inu right now. Whale transactions just exploded by a whopping 248% – that's one of the biggest spikes we've seen in ages. At first glance, you'd think this is amazing news, right? Big money moving means big things are coming. Well, not so fast.
The data from IntoTheBlock shows these whales are throwing around serious cash – we're talking transactions between $1 million and $10 million. Normally, when you see this kind of whale action, it screams "accumulation mode." These big players usually know something the rest of us don't, so when they start moving, everyone pays attention.
Shiba Inu (SHIB) Price Tells a Different Story
But here's where things get weird. While all this whale drama is happening, SHIB's price is basically doing the opposite of what you'd expect. It's been slowly bleeding out and is now hanging on for dear life around $0.00001217. That's a key support level, and if it breaks... well, things could get ugly fast.
The technical picture isn't pretty either. SHIB is stuck way below all the important moving averages, with that 200 EMA sitting up there like some unreachable mountain. The RSI? It's barely keeping its head above water in neutral territory. Everything's screaming "no momentum here, folks."
SHIB (Shiba Inu) Whales Might Be Heading for the Exit
So we've got this crazy situation: whales are going nuts with activity, but the price keeps tanking. What gives? Well, it's starting to look like these big players aren't buying – they're selling. And that's not good news for anyone holding SHIB.
Think about it. Retail traders are backing away, the charts look terrible, and yet we're seeing all this whale movement. It smells like distribution, which is just a fancy way of saying the smart money is getting out while they still can. If that $0.00001200 support level gives up the ghost, SHIB could easily drop below $0.00001000 – territory we haven't seen since early 2024.
That would be a real kick in the teeth for anyone who's been holding on, hoping for better days. The bottom line? Just because there's a lot of action doesn't mean it's good action. Sometimes the biggest volumes come right before the biggest dumps, and SHIB holders might want to keep their eyes wide open right now.
Usman Salis
