801 Billion SHIB Sold in 24 Hours—What Are Whales Seeing Ahead

Shiba Inu (SHIB) whales triggered a significant selloff, unloading 801.04 billion SHIB tokens within 24 hours. This sharp spike in selling coincided with extreme market volatility, which spread fear among investors. As the overall crypto market faced a crash, Shiba Inu saw intensified pressure from large holders exiting positions.

Shiba Inu Whales Spark Massive Token Selloff

Large holders of Shiba Inu increased token outflows by 343.18% in one day, suggesting widespread panic selling. Market confidence declined through the 180.76 billion to 801.04 billion change in token numbers. The sharp increase demonstrates a stronger tendency towards aggressive selling activities than buying activities.

 

Large holder netflows shifted negatively because inflow activity became less dominant than outflow activity. The current netflows show -256.9 billion in outflows, demonstrating that buyers have completely vanished from the market. The whale’s token purchase figures reflect significant market inequality because they obtained only 544 billion tokens.

Major investors appear uncertain because they choose to liquidate their positions instead of keeping their capital exposed to avoid potential losses. Market professionals who strongly believe prices will lower usually initiate such movements through substantial trading volume. Price pressure escalated after major holders left the market, thus causing caution from other investors to rise.

SHIB Price Impacted by Selloff and Technical Resistance

Following the whale offload, Shiba Inu’s price fell from $0.00001173 to $0.00001125 on daily charts. This decline broke a brief recovery trend despite SHIB gaining 8.45% the day before. As of now, SHIB trades at $0.00001131, maintaining weak momentum.

All periods of exponential moving averages function as barriers to resisting the meme coin’s downtrend. SHIB continues to trade below its 20, 50, 100, and 200-day EMAs, showing little strength to reverse. EMAs have transformed into resistance walls, preventing SHIB from recovering above their positions.

 

The Relative Strength Index stands at 35.50 on the technical front, signaling that SHIB is nearing oversold levels. The MACD indicator’s line keeps trailing behind the signal line, indicating an ongoing red signal. Small intraday increases do not diminish the bullish pressure shown through these bearish momentum indicators.

Spot and Derivatives Markets Reflect Continued Downside Pressure

Derivatives market data reveals persistent negative funding rates, favoring short positions on Shiba Inu. The market continues to force traders to pay for holding short positions since it indicates anticipated downward price movement. Sometime during this period, there were brief periods of green funding bars, but the overall funding bar trend remained negative.

 

Natural market movements through Spot markets have maintained steady negative patterns from November through April 2022. Net outflows outweigh inflows significantly, adding to the selling pressure across the SHIB market. Market participants continue to close their positions rather than increase their investment in Shiba Inu.

 

Despite a minor 3.38% intraday gain to $0.00001102, SHIB lacks the momentum to break downward resistance. These price surges stem from traders closing their short positions rather than investors showing long-term market support. The SHIB price demonstrates high volatility and does not indicate an upcoming trend change from buyers.

FAQs

Why did Shiba Inu whales sell 801 billion tokens?

Shiba Inu whales sold off large volumes due to panic triggered by recent market volatility and declining confidence in prices.

What is the current Shiba Inu price?

Currently, Shiba Inu trades at $0.00001131 after falling from $0.00001173 earlier this week.

What technical indicators show SHIB’s bearish trend?

Indicators like RSI, MACD, and moving averages all show weakness, with RSI near oversold and MACD confirming ongoing negative momentum.

Are short sellers dominating the market?

Yes, data from funding rates shows traders continue to favor short positions, expecting further price declines in SHIB.

Is there any sign of a SHIB price recovery?

There is no strong recovery sign yet, as SHIB trades are below all major EMAs, and investor sentiment remains weak.

Glossary of Key Terms

Whales – Investors or entities holding large amounts of a particular cryptocurrency.

Token Outflows – The movement of tokens away from wallets, often indicating selling activity.

Netflow – The difference between tokens entering and leaving wallets; negative means more selling than buying.

RSI (Relative Strength Index) – A technical indicator that measures if an asset is overbought or oversold.

MACD (Moving Average Convergence Divergence) – A trend-following indicator that shows changes in momentum.

EMAs (Exponential Moving Averages) – Indicators that show the average price over specific time periods, emphasizing recent data.

Funding Rate – A periodic payment in futures contracts that balances the price between spot and perpetual contracts.

OI (Open Interest) – The total number of outstanding derivative contracts, reflecting market activity and sentiment.

Reference: 

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