Shiba Inu News Today: Is SHIB Coin The BIGGEST LOSER?
Shiba Inu is facing a challenging period, marked by a significant drop in its price and the departure of large holders. In the article below, we will explore the impact of whale withdrawals on SHIB's market performance and future outlook, how likely it will recover, and how soon.
SHIB Price Analysis: Why The SHIB price crash?
1- Whales Exit: Lost Confidence
Shiba Inu's (SHIB) situation has worsened as large holders, known as whales, have started exiting the market. This mass exodus signals a loss of confidence among major investors, leaving a substantial amount of SHIB in circulation and searching for new buyers. The SHIB price has dropped to $0.00001329, highlighting the severity of the situation. With expectations of further declines, breaking the support level of $0.000013.
2- Decrease in Large Transactions
The decline in large transactions is a clear indicator of whales leaving the market. This significant outflow of funds has resulted in a negative sentiment, with SHIB's trading volume fluctuating wildly. In the last 24 hours, the total volume exceeded 1 trillion, peaking at 2 trillion on July 3 and hitting a low of 947 billion on June 29.
SHIB Price Prediction: Further Declines Ahead
On-chain metrics further paint a grim picture for SHIB coin. The "In the Money" metric shows that most SHIB holders are currently at a loss, contributing to the bearish outlook. Exchange data also suggests a balanced pressure between buyers and sellers, with no strong bullish signals. The absence of futures contracts for SHIB leaves investors exposed to potential further declines, exacerbating the selling pressure.
With the SHIB price now trading at 0.000013, declines further could bring it lows surpassing the Shiba Inu price of $0.000010 with the potential of going back to its lowest ever at $0.000007. But how fast could it drop, and what will help it recover from this crash?
Mostly, regaining crypto market confidence will be the crucial stone to a recovery of Shiba Inu price and other cryptos.
The combination of whale withdrawals and a subsequent 15% price decline underscores the eroding market confidence in Shiba Inu. Without significant buying interest or protective measures for investors, SHIB faces a challenging road ahead.
