Saad Ullah
Shiba Inu (SHIB) just got hit hard by a massive whale selloff. The meme coin saw its large transaction volume crash by 50% in just one week.
SHIB Price Gets Crushed at Key Resistance
Shiba Inu's doing what it does best - going crazy volatile. SHIB's large transaction volume just took a brutal 50% hit over the past week, dropping from a massive 6 trillion tokens traded daily down to just 3.65 trillion. That's a whopping 3 trillion SHIB tokens less in whale activity, and drops this big don't happen without consequences.
The price chart's already showing cracks. SHIB tried to make a comeback around the $0.000014 zone and even managed to break above the 50-day and 100-day moving averages. But then the 200-day EMA came in like a brick wall and smacked the price down 2% in one session. Classic rejection.
This looks like textbook distribution - pump it up to get retail buyers excited, then the big players dump on them when there's no liquidity. Not a good look.
Whale Activity Collapse Spells Trouble for SHIB Price
Here's the scary part: when whales stop playing, prices usually follow. These big transactions are basically a confidence meter for crypto, and right now that meter's reading pretty low. The major players are either quietly selling or sitting on the sidelines.
We've seen this movie before with SHIB. Last time whale activity dropped this hard, the token got crushed for weeks and lost over 30% of its market cap. History might be repeating itself here.
SHIB Price Hanging by a Thread
Right now, SHIB's barely holding onto the $0.000013 level, which is sitting just above some short-term support. But without whales jumping back in, this support's looking pretty shaky.
If things go south, we could see SHIB slide back to $0.000012 or even $0.000011. That would basically wipe out all the gains from July's rally - ouch.
Bottom line: losing 3 trillion tokens worth of whale activity isn't something you just shrug off. Unless these big players come back fast and SHIB can actually break through that 200-day EMA, we're probably looking at more downside ahead.
Saad Ullah
