The Shiba Inu (SHIB) market is under renewed pressure after large-scale selling from whales rocked investor confidence. According to data from IntoTheBlock, SHIB whales sold off a staggering 801.04 billion tokens in just 24 hours—a 343.18% surge from the previous day’s outflows of 180.76 billion.
This selling spree comes amid a broader crypto market crash and extreme volatility over the last 72 hours, shaking both retail and institutional holders. The sudden spike in whale outflows strongly signals that large holders are exiting positions, likely expecting a further downside.
Whale Netflows Dip Deep Into Negative Territory
Netflow data shows a clear imbalance between capital inflows and outflows. At press time, Shiba Inu’s large holder, Netflow, sat at -256.9 billion, implying that whales only accumulated 544 billion SHIB while dumping over 800 billion.
This negative flow pattern suggests that whale sentiment is currently bearish, with investors lacking confidence in SHIB’s short-term price action. Historically, such behavior often precedes or accompanies price declines as whales seek to minimize losses.
SHIB Price Drops Amid Bearish Indicators
In response to this mass exodus, SHIB’s price fell from $0.00001173 to $0.00001125 within 24 hours. At the time of writing, SHIB is trading at $0.00001131, reversing a portion of its earlier 8.45% intraday recovery. This suggests that whale activity is having a visible impact on price action.
According to AMBCrypto’s analysis, key momentum indicators signal further downside:
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The Stochastic RSI dropped sharply to 3.23 from 11, highlighting strong downward momentum.
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The MACD line has also moved into negative territory, confirming bearish momentum.
Unless market dynamics shift, SHIB may test the $0.000010 support level. Analysts note that the token must achieve a daily close above $0.00001142 to trigger a bullish reversal.
What’s Next for SHIB?
With whales continuing to offload tokens and technical indicators pointing toward a continued bearish phase, SHIB faces a crucial test. Whether it can defend key support levels or continue sliding depends mainly on market sentiment and whether buyer interest resurfaces at lower levels.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
