Crypto: Whales Fleeing, Shiba Inu Collapsing
Release: 2024/08/05 11:04 Reading: 949
Shiba Inu's Tumble Persists Amid Whale Exodus
The Shiba Inu (SHIB) cryptocurrency has underperformed expectations, dashing hopes of an anniversary rally. Recent whale movements may be driving this decline.
Whales Deserting SHIB
Data reveals that over 1.2 trillion SHIB tokens were traded in a single day, indicating significant transactional activity. However, despite this, SHIB remains in a bearish trend.
Technical Indicators Signal Weakness
SHIB continues to fall below its 200, 100, and 50-day moving averages, suggesting ongoing selling pressure. Attempts to surpass resistance levels have repeatedly failed, leading to further declines.
Bearish Sentiment Prevails
Experts observe that SHIB faces a dire situation, with little hope for a recovery unless there is a dramatic turnaround.
Key Points:
- 1.2 trillion SHIB traded within 24 hours
- $184 million worth of transactions in the past week
Crypto Market Contraction
Shiba Inu is not alone in its struggles. Altcoins and memecoins like Dogecoin are facing similar pressures due to the broader crypto market downturn.
Descending Channel Invalidated
SHIB's descending channel has been broken by a sharp price drop, indicating a continuation of the bearish trend.
Pessimism Remains
Despite signs of large transactions, overall sentiment remains pessimistic. Lower highs and lower lows signal a prolonged bearish trend.
Hope for Recovery
Amid the current challenges, certain indicators suggest that a trend reversal for Shiba Inu may be possible in the future.
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com