Shiba

Impact

Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-drive-shiba-inu-price-down" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Drive Shiba Inu Price Down</a><br></p>
<p style="text-align: justify">The market-wide downturn on August 15 has put additional pressure on Shiba Inu (SHIB)’s value. Although there has been a partial recovery in the broader market since then, SHIB continues to face a downward trend influenced by several key factors beyond the general market decline.</p>
<h2 id="why-are-whale-sales-increasing">Why Are Whale Sales Increasing?</h2>
<p style="text-align: justify">In the past 24 hours, Shiba Inu’s price has dropped by 1.5% to $0.00001359. On-chain data suggests that whale exits could be significantly contributing to this decline. According to IntoTheBlock, large investor transactions have decreased by 32.29%, indicating that whales might be offloading their SHIB holdings. Additionally, CryptoQuant reports a net exchange inflow of 48 billion SHIB, worth approximately $657,000, further supporting this trend.</p>
<h2 id="what-is-the-impact-of-rising-short-positions">What Is the Impact of Rising Short Positions?</h2>
<p style="text-align: justify">Open interest in SHIB has risen by 3.75% in the last 24 hours, pointing to an increase in short positions. This, combined with a 2.2% decrease in cumulative volume delta (CVD) data, confirms that market participants are expecting further declines. Coinglass’s SHIB Liquidation Map also reveals an imbalance in the liquidation of short positions, highlighting growing bearish sentiment due to weak network growth and negative <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<ul>
 <li>Whales are selling their SHIB, contributing to price decline.</li>
 <li>Open interest and CVD data suggest a bearish market outlook.</li>
 <li>Support levels at $0.00001350 and $0.00001100 could offer recovery points.</li>
 <li>Large buy orders from whales at lower price levels indicate potential <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> recovery.</li>
</ul>
<p style="text-align: justify">Despite the ongoing bearish trend, technical analysis shows that SHIB has confirmed its downward trajectory by breaking the lower boundary of its rising channel formation. However, the support levels at $0.00001350 and $0.00001100 could serve as potential recovery points in case of a pullback. The narrowing Bollinger Bands suggest an increase in downward pressure, but a reversal is possible if the price drops further.</p>
<p style="text-align: justify">If SHIB’s price exceeds the upper band of the Bollinger Bands, this bearish scenario could be invalidated, and the price might aim for the next significant resistance at $0.00001655. Currently, it appears that whales are waiting to purchase SHIB at lower levels, with large buy orders worth $1.775 million at $0.0000099, $0.0000109, and $0.0000119, indicating potential for price recovery soon.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-drive-shiba-inu-price-down" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Drive Shiba Inu Price Down</a></h5>

Whales Drive Shiba Inu Price Down

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