- Whale transactions drop 79%, signaling reduced institutional interest in SHIB.
- SHIB struggles as outflows exceed -$50M, causing sharp price declines.
- RSI at 39.62 nears oversold; MACD hints at weakening bearish momentum.
Shiba Inu (SHIB) has seen a major downturn in the last three months, with whale transactions falling sharply by 79%. This decrease in large-holder activity matches SHIB’s falling price, pointing to reduced institutional interest.
According to analyst Ali Martinez, whale transactions over $1 million have considerably decreased, pushing the asset lower.
Support is forming around $0.000016, but resistance stays near $0.000021. Current technical indicators suggest SHIB might continue to struggle in the short term unless whale accumulation picks up again.
Whale Activity Dries Up as SHIB Price Drops
SHIB’s price hit a high point in early December before starting a long slide. The drop in whale activity signals fading confidence among large investors, often leading to lower …
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