Ah, the world of cryptocurrency! Where fortunes are made and lost faster than you can say “blockchain.” Recently, we witnessed a jaw-dropping 248% surge in whale transactions for Shiba Inu (SHIB). At first glance, it seems like a triumphant return to glory, but hold your horses! 🐴 The reality is a bit murkier.
These big fish, affectionately known as whales, are clearly swimming in deep waters, moving around sums that would make Scrooge McDuck blush. The IntoTheBlock chart reveals a spike in transactions ranging from $1 million to $10 million. You’d think this would signal a buying frenzy, right? Well, not so fast! The price of SHIB has been on a slow, agonizing decline, currently clinging to life at a support level of $0.00001217. Talk about a dramatic plot twist! 🎭
With the 200 EMA (Exponential Moving Average, for those not in the know) hovering above like a hawk, the asset is trading below all major moving averages. Momentum? What’s that? The RSI (Relative Strength Index) is as weak as a kitten, barely holding onto neutral territory. So, while whale activity is booming, the price is doing a nosedive. It’s like watching a high-stakes game of poker where everyone’s bluffing, and the chips are flying everywhere! 🎲
It seems these large players might be selling rather than buying, which is a bit like finding out your favorite restaurant is actually a front for a money-laundering operation. With retail volume dwindling and technical indicators flashing red like a stop sign, these transactions could very well be exit liquidity. If the support at $0.00001200 crumbles, we might see SHIB tumble into the abyss of sub-$0.0001000 territory—something we haven’t seen since early 2024. Yikes! 😱
volume doesn’t always mean buy. 🛑
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2025-06-16 16:07