Shiba Inu (SHIB) is showing a clear decline in both price momentum and blockchain activity, characterized by a significant drop in large holder inflows.
Current Situation of SHIB
Currently, Shiba Inu is trading at approximately $0.00001316 and has failed to break through critical resistance levels, marked by the 50-day, 100-day, and 200-day moving averages, which are around $0.00001392, $0.00001417, and $0.00001553, respectively.
Decrease in Large Holder Inflows
According to IntoTheBlock, large holder inflows have plummeted by 92.35% in the past week. Over the last month, this metric has dropped by more than 56%, possibly indicating that whales are not accumulating tokens. Conversely, outflows have also decreased sharply, suggesting that major players are sitting on the sidelines or have already exited the market.
Future Prospects
The drop in interest from large holders raises significant concerns regarding SHIB's short-term outlook. The lack of interest from significant investors means the market is lacking the requisite liquidity to drive prices higher. The chances for growth remain minimal, and the nearest support zone at $0.00001200 represents the last stronghold before further capitulation becomes possible.
Overall, the current situation with SHIB reflects growing concerns about its future prospects. Until interest from large holders returns, the token may continue to drift lower in the current conditions.
