Whale activity stirs SHIB nerves, short-seller alarm sounded
The dormant whale wallet that had been silent for three years suddenly transferred a massive 64,606,063,702 to Binance. As an early holder who previously created several times the profit, its reduction in holdings is interpreted by the market as an important indicator, further reinforcing short-term bearish expectations.
Currently, SHIB is facing a test of key support levels. The daily price has fallen below all core moving average systems, with bearish momentum continuing to dominate.
Despite shrinking trading volume suggesting that selling pressure may be nearing a temporary end, the market struggles to independently brew a rebound in the absence of fundamental catalysts.
If the support level of 0.0000112 is breached, the psychological barrier of 0.0000100 will be exposed to bearish fire; for bulls to reverse the downtrend, they must first reclaim the crucial resistance level of 0.0000135.
Caution is advised: this whale operation is not an isolated event.
The exit behavior of long-term holders reflects a potential shake in market confidence regarding SHIB's valuation. Under the dual pressure of tightening macro liquidity and cooling Meme coin popularity, the withdrawal of such astute funds may signal that short-term risks have not been fully released.
Although the market is slightly sluggish now, opportunities will definitely come. Stay calm and wait for a correction; feel free to contact me in the comments section to discuss future market views!
