Recent data indicates a significant increase in whale activity for Shiba Inu (SHIB), possibly signaling potential market changes.
Whale Activity and Outflows
Over the past 90 days, whale outflows for SHIB have risen by 114.35%, suggesting that whales may be repositioning assets amid market uncertainty. However, the 30-day trend shows a 44.61% decline in outflows. The seven-day metric recorded a 47.55% increase, indicating that recent whale activity is reactive rather than part of a longer accumulation trend.
Shiba Inu Price Resistance
Currently, SHIB is priced at $0.00001166, with a slight 0.62% gain in the past 24 hours. However, the 24-hour trading volume has dropped by 36.36% to $106.5 million, signaling a decrease in buying interest. SHIB remains under pressure from the 50-day and 100-day exponential moving averages (EMAs), limiting its upward potential.
RSI Indicators and Support Levels
The Relative Strength Index (RSI) for SHIB stands at 43, below the neutral 50 mark, reflecting weak bullish control and limited price momentum. On the downside, support remains firm near $0.0000100, a zone where the price has stabilized in previous pullbacks.
In conclusion, the increased whale outflows signal potential uncertainty in the cryptocurrency market. It is essential to closely monitor the behavior of large holders, especially if the price fails to breach key resistance levels.
