Shiba Inu (SHIB) has taken a major hit lately, with its price dropping significantly. The main culprit? Big investors, often called “whales,” are selling off huge amounts of SHIB.
Whales Are Selling Big Time
Data shows whales have been dumping SHIB like crazy. One indicator shows a massive decrease in whale holdings – a whopping 736% drop in just one week! This means whales are selling far more SHIB than they’re buying. It’s a clear sign of serious selling pressure. Even those holding between $1 million and $10 million in SHIB saw their holdings drop by over 30% in just 24 hours!
What Does This Mean for SHIB’s Price?
This massive sell-off has created a lot of fear among investors. The “Fear & Greed Index” for SHIB is firmly in “Fear” territory. History shows that when whales sell this much SHIB, the price usually drops. We’ve already seen the price fall below previous lows, reaching its lowest point in over a year. If whales keep selling, the price could fall even further.
Is There Any Hope?
Technical indicators aren’t looking great either. While the price might be nearing oversold territory (meaning it could bounce back), the overall trend is still downward. Bears (those betting on the price to fall) are currently in control. The future of SHIB’s price depends heavily on whether these whales continue their sell-off.
