Shiba Inu Price Dips: Whales Dump and Traders Panic!

by

Ah, the Shiba Inu (SHIB)—always a thrilling rollercoaster ride, and today’s no exception! With whales scurrying off, loading their crypto bags with greener pastures, SHIB finds itself teetering on the edge of doom, or perhaps just a little “correction.” At the moment, it clings to a desperate hope, resting between the meager support levels of $0.000012-$0.000013, but with the slightest of breezes, it could tumble further. 🎢

Today’s episode of “Shiba Woes” features a solid 2% drop, bringing the SHIB price down to a mere $0.00001286. Trading volumes? Meh. Only $131.61 million in the last 24 hours—just enough to make you think, “Should I sell or wait for the bottom?”

Two Trillion Shiba Tokens: An Act of Great Generosity? Or Just Another Whale Tale?

In a truly *heartwarming* turn of events, Whale Alert has reported a massive 2 trillion SHIB token transfer to Coinbase Institutional. Oh, and don’t forget that little transfer before it—a paltry 524 billion SHIB tokens. The generosity was valued at a rather meager $36.60 million. Who needs to take it slow when you’re casually dumping billions? 🙄

Apparently, this whale isn’t alone in the party; the overall whale activity has dried up, and the number of SHIB holders has decreased slightly to 1,509,292. That’s a lot of lonely wallets with too much time on their hands.

Meanwhile, the Shiba Inu ecosystem seems to have hit a bit of a midlife crisis. Sentora (formerly IntoTheBlock) has graciously marked four bearish signals for SHIB. Things are looking *up*—but not in the way you might expect.

As for daily transactions? Well, let’s just say they’ve taken a nosedive from the lofty heights of millions in May to a sad, pitiful average of 75K in June. On June 4, we witnessed a heart-rending 63.78K transactions. And for those who are into the “BONE” factor—well, it’s not looking too sharp, with active accounts dwindling down to a mere 9,391. A true tragedy, really. 🐕

To add salt to the wound, BONE, the sidekick in this crypto drama, has dropped over 7% in the last 24 hours, currently standing at $0.266. What a time to be alive—watching a coin’s sad, slow decline. Its low and high for the past 24 hours? $0.265 and $0.289. They really ought to start charging for the privilege of witnessing this drop.

Will SHIB’s Price Continue to Plummet? Ask the Crystal Ball…

And so, here we are—SHIB down 2% over the last 24 hours, now sitting at a modest $0.00001281. Its high and low for the day? A heartbreaking $0.00001272 and $0.00001315. There’s a small glimmer of hope with a 13% rise in trading volume. Maybe it’s not over yet, or maybe it’s just another false dawn. ☀️

Meanwhile, SHIB futures are doing their best impersonation of a sinking ship, with open interest on major exchanges taking a sharp dive. The SHIB1000 futures OI on Bybit fell nearly 7%, and Binance saw a modest 3% drop to $44 million. Ah, such optimism. 🍿

Several technical indicators are whispering ominously of more bearish days ahead, while the SHIB community remains steadfast in their naive belief that a reversal is nigh. The 20-EMA (blue) has crossed below the 50-EMA (red), and everyone knows what that means—it’s a sign that the tide may very well be against us. 🦀

Read More

2025-06-05 09:41