Shiba Inu's Dramatic Exit: 70% Whale Exodus Leaves SHIB in a Tailspin! 🐕💔

Ah, the Shiba Inu! Once a darling of the crypto world, now a mere shadow of its former self.
It appears SHIB is caught in a descending triangle, much like a sad clown at a children’s party.

In a rather theatrical turn of events, Shiba Inu (SHIB) has witnessed a staggering 70% drop in large holder netflows. It seems our beloved whales have decided to abandon ship, leaving behind a trail of empty wallets and broken dreams. Just last week, those holding between $1-$10 million in SHIB decided to reduce their holdings by a whopping 31% in a single day. Talk about a mass exodus! 🐋💨

As these whales cash out, SHIB’s liquidity has plummeted, leaving the price languishing in a bearish abyss below $0.000014. Without the grand entrance of new whale investors, SHIB’s chances of recovery seem as slim as a cat on a diet. 🐱‍👤

Market stability, it seems, is contingent upon fresh investors entering the fray, spurred by minor increases in trading volumes. The future is as uncertain as a cat in a room full of rocking chairs, with investors split on the market’s fate.

What does the weekly price action say?

At the time of writing, SHIB’s price action resembles a sad little dance within a descending triangle pattern. It has made a valiant attempt to rally against the long-term downtrend, but alas, it is tethered to a critical horizontal support level. Currently, the price has climbed to the 0.000012688 mark, a level where demand once flourished like wildflowers in spring.

If this support holds, we might see a rebound, testing both ends of the descending trendline and possibly reaching for the stars—targets between 0.000030000 and 0.000045000. However, should SHIB dip below 0.000010000, we may find ourselves staring into the abyss, with $0.000007000 to $0.000005000 looming as the next support levels. 😱

The MACD trend paints a rather gloomy picture, revealing bearish conditions as the Signal line languishes below zero. The histogram momentum continues to fall, much like my enthusiasm for Mondays. An upward price shift would require a miraculous bullish cross pattern in the MACD—let’s keep our fingers crossed! 🤞

When buyers finally decide to grace the market with their presence, they will surely attempt to generate some upward momentum. However, prolonged stability above $0.000012500 may prove elusive, leading to either a prolonged stay at current levels or a dramatic price drop. 🎭

SHIB’s active addresses and burn rate

In addition to the dwindling whale activity, the number of SHIB active addresses has decreased by 6.86%. New address creation has fallen by 6.94%, and zero-balance addresses have declined by 11.18%. It’s as if everyone decided to take a long vacation, leaving SHIB to fend for itself.

Once, in February, active addresses peaked at a glorious 15.6k, only to plummet back down to a mere 1.38M by mid-February. A tragic tale indeed! 📉

Interestingly, despite a staggering 49,552% surge in the daily burn rate, there have been no significant changes in price. This serves as a reminder that on-chain metrics and price performances don’t always dance to the same tune. 🎶

2025-03-18 11:08

Shiba Inu’s Dramatic Exit: 70% Whale Exodus Leaves SHIB in a Tailspin! 🐕💔

What does the weekly price action say?

SHIB’s active addresses and burn rate

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