Shiba

Cardano

Injective

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In the world of crypto,&nbsp;<a href="https://u.today/shiba-inu-shib-key-indicator-paints-picture-you-dont-want-to-see" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> has been a headline-grabber, and it is easy to see why. Just last week, the token witnessed an astonishing 12.5% surge, changing a 7 in its price to an 8.&nbsp;
However, the question on everyone's mind is whether this ascent can continue or if the crypto giant will stumble against a formidable resistance zone. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="87f98599-6331-45d8-b4d3-c2cacc4308df" src="https://u.today/sites/default/files/inline-images/SHIB_1M_graph_coinmarketcap_4.jpeg">SHIB to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
The current state of the Shiba Inu token price chart is sounding alarms, and major holders and investors are heeding the warning signs.
According to data from&nbsp;<a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlack</a>, a renowned on-chain analytics platform, there has been a 44% surge in the outflow of Shiba Inu tokens held by large investors in the last 24 hours, reaching a staggering 254.75 billion SHIB.&nbsp;
In stark contrast, the influx of&nbsp;<a href="https://u.today/shiba-inu-shib-key-indicator-paints-picture-you-dont-want-to-see" rel="noopener noreferrer nofollow">SHIB</a> into large holders' wallets plummeted to 360.8 billion, marking a substantial 74.2% decline from the previous day. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="2301622e-a565-403e-aacc-c5269fcb8759" src="https://u.today/sites/default/files/inline-images/shibabbaaa.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a>
These dramatic movements can be interpreted as a mass exodus of&nbsp;<a href="https://u.today/elon-musk-approves-doge-creators-plan-to-increase-his-x-earnings" rel="noopener noreferrer nofollow">Shiba Inu</a> whales, with two potential reasons behind their actions: anticipation of a price correction or a move to cash in on their profits.
<h2 id="more-signals">More signals</h2>
Leading crypto analyst Ali Martinez recently voiced similar concerns.
<blockquote>
 The TD Sequential indicator presents a sell signal on the daily chart of <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ShibaInu</a> <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>, <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a>, <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a>, and <a href="https://twitter.com/hashtag/Injective?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Injective</a> <a href="https://twitter.com/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$INJ</a>, anticipating a correction before the continuation of the uptrend. Try this trading tactic on <a href="https://twitter.com/PrimeXBT?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@PrimeXBT</a>. Sign up with promo code… <a href="https://t.co/6UMd3SRZWo" rel="noopener noreferrer nofollow">pic.twitter.com/6UMd3SRZWo</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1718877718509392136?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 30, 2023</a>
</blockquote>
He pointed out that the TD Sequential indicator is flashing a sell signal on the daily chart of Shiba Inu (SHIB), as well as other cryptocurrencies like&nbsp;<a href="https://u.today/elon-musk-approves-doge-creators-plan-to-increase-his-x-earnings" rel="noopener noreferrer nofollow">Dogecoin (DOGE)</a>, Cardano (ADA) and Injective (INJ).&nbsp;
This indicator suggests a potential correction may be on the horizon before any resumption of the uptrend.
The crypto market is ever-volatile, and Shiba Inu's fate remains uncertain. As the whales retreat, all eyes are now on how SHIB will respond to this possible correction and whether it can continue its journey toward new local highs.

Shiba Inu (SHIB) Possible Price Correction Triggers Whale Exodus

목차

U_Today

2023년 10월 30일에 게재된 다른 기사

Cardano Partners With Singapore’s Blockchain Institute: ADA Turns Bullish

Wiki Finance Expo Sydney 2023 Is Coming Soon!

Axie Infinity gains 16% amid increased whale transactions

Blur VS OpenSea: An Analysis, Let’s Delve Into The World Of BLUR

Standard Chartered-Backed Zodia Custody Expands Into Hong Kong

EXCLUSIVE: Glade CEO addresses alleged breach of $214,000, contentious co-founder exit

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!