Shiba

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/shiba-inu-shib-crashes-to-new-low-rebuy-signal" rel="noopener noreferrer nofollow">Shiba Inu</a> is in a complicated state already, and the last thing it needs is the exodus of large holders. However, the fact that we are seeing a drop in large transactions means only one thing: whales have already capitulated, and there is plenty of SHIB around waiting for a <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">buyer</a>.
The numbers are clear: <a href="https://u.today/bitcoin-bloodbath-key-reason-why-btc-is-getting-annihilated" rel="noopener noreferrer nofollow">SHIB</a> has dropped to $0.00001329. Large SHIB transactions have decreased dramatically, suggesting that significant holders are leaving the market. A large chunk of SHIB remains on the market as a result of whales' withdrawals, which suggests a lack of trust among them. The overall negative sentiment is a result of an exodus of funds from the market.&nbsp; <img alt="SHIBUSDT Chart" data-entity-type="file" data-entity-uuid="2fda67e7-0fdb-4632-b41f-e1a153647895" src="https://u.today/sites/default/files/inline-images/image_967.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a>
This trend is reflected in the trading volume. SHIB's total volume exceeded 1 trillion in the last 24 hours, reaching a seven-day high of two trillion on July 3 and a seven-day low of 947 billion on June 29.
The bearish outlook is further reinforced by on-chain signals. The In the Money metric, adding to the unfavorable sentiment on the market, suggests that the majority of <a href="https://u.today/shiba-inu-team-issues-special-message-for-community" rel="noopener noreferrer nofollow">SHIB</a> holders are losing money. The picture painted by exchange signals is also bleak. The volume difference between bid and ask indicates that buyers and sellers are exerting equal pressure. But bullish signals are missing from exchange metrics, which suggests that there is not much buying interest at these prices.
Furthermore, since SHIB does not have futures contracts, investors are left without a way to protect themselves from additional drops, which might intensify selling pressure. Important indicators that the market's faith in SHIB is eroding are the whale flight and the subsequent 15% decline.

Shiba Inu (SHIB) Whales Disappeared, 15% Plummeting

U_Today

Outros artigos publicados em 5 de jul. de 2024

Bitcoin’s crash below $54000 – Are long-term holders worried yet?

US jobs data deals blow to Ethena, Solana, and EOS prices

Cost-Effective Solutions for Mass Token Transfers

Cash Remains King: Canadians Prefer Traditional Money Over Crypto Options

Crypto Market Analyst Ranks The Top Layer 1 Networks In Shocking Revelation

Harga BTC Terjun Bebas ke US$53.571 Jauh di Bawah EMA-200 dan Rollblock Tawarkan Permainan Beragam

Join our free newsletter for daily crypto updates!