Whales Dump 801B Shiba Inu Tokens: Is the Memecoin Doomed? 🐋💥

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  • Shiba Inu whales have offloaded a staggering 801 billion tokens in just 24 hours. That’s enough SHIB to buy a small planet—or at least a very large pizza.
  • Despite this, the memecoin somehow managed to rise by 8.45% over the past day. Because, of course, crypto logic.

Over the past three days, the crypto markets have been more volatile than a caffeinated squirrel on a rollercoaster. With the widespread crash, investors, retailers, and whales have been panicking harder than a goldfish realizing it’s in a bowl and not the ocean.

Thus, as the market crashed, Shiba Inu [SHIB] whales decided to sell faster than you can say “HODL.” Whale activity on the sell side has spiked over the past day, proving once again that when the going gets tough, the whales get selling.

According to IntoTheBlock, Shiba Inu whales have sold 801.04 billion tokens, which is a 343.18% increase from the previous day. To put that in perspective, that’s like selling 801 billion slices of pizza in a day—except no one’s getting fat, just broke.

Such a spike implies that Shiba Inu whales are selling more aggressively than a used car salesman on commission day.

In addition, there has been more selling from large holders than capital inflows. This was evident through the large holder’s netflow, which experienced a sharp decline, dropping into negative territory faster than a lead balloon.

At press time, the netflow sat at 256.9 billion. When netflow hits negative, it implies that there’s more capital outflow from large holders than inflows. Thus, whales only bought 544 billion tokens over the same period. Which, let’s be honest, is like buying a single slice of pizza after selling the entire pizzeria.

Such a negative imbalance suggests that large holders are currently at the crossroads, lacking conviction with the market. Or maybe they’re just waiting for the next Elon Musk tweet to save the day.

When whales turn to massive selling, it implies that they are bearish and expect prices to drop, thus they turn to sell and cut losses. Or maybe they just realized they could buy more pizza with fiat.

Impact on SHIB?

As expected, increased offloading from whales has negatively impacted Shiba Inu’s price movement. On the daily charts, the memecoin has dropped from a high of $0.00001173 to a low of $0.00001125. Which, in crypto terms, is like going from “I’m rich!” to “I’m slightly less rich!” in the blink of an eye.

As of this writing, Shiba Inu was trading at $0.00001131. Which is still more than zero, so there’s that.

This decline after showing signs of recovery from the past day and rising by 8.45% suggests that whale-selling activity is being felt in the market. The question is; is Shiba Inu set for more losses? Or will it bounce back like a rubber ball in a zero-gravity chamber?

What’s next for the memecoin?

According to AMBCrypto’s analysis, Shiba Inu faced strong downward momentum amidst soaring selling pressure, as evidenced by the declining Stoch RSI and MACD. Which, for the uninitiated, is like saying the memecoin is in a downward spiral because of a bunch of lines on a chart.

Looking at the Stoch RSI, it has declined to 3.23 from 11 over the past 24 hours until press time. Such a dip suggests the downward momentum is stronger than ever before. Or, in other words, the memecoin is in freefall.

This is further validated by the MACD line, which has declined into the negative territory. With these momentum indicators declining, they suggest a continuation of the prevailing trend. Which, let’s be honest, is not great news for Shiba Inu holders.

Therefore, if selling activity continues while bearish momentum remains strong, Shiba Inu could drop to $0.000010. For a bullish reversal to emerge, the memecoin needs a daily close above $0.00001142. Which, at this point, seems about as likely as finding a unicorn at your local Starbucks.

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2025-04-09 06:19