Shiba Inu is under serious selling pressure once again, and the numbers don’t lie. On-chain data reveals that over 4.87 trillion SHIB tokens were transferred in a single day — one of the largest spikes in volume this month, raising concerns about SHIB’s short-term outlook.
Price action confirms the pressure: SHIB has broken below the key 50 EMA and is heading rapidly toward the 200 EMA. With the recent uptrend now erased, price has slipped closer to the crucial support level around $0.00001200.
The chart suggests this isn’t just a temporary pullback — a descending structure is forming, indicating a broader shift in market sentiment. Historically, such volume surges often signal distribution phases, where large holders exit positions during high volatility.
Adding to the bearish outlook, the 7-day average volume sits at 2.72 trillion SHIB with a peak of 4.87 trillion, signaling aggressive movements — possibly whales rotating out into more stable assets. Despite RSI nearing oversold levels, the lack of bullish divergence suggests a recovery isn't imminent.
If SHIB fails to hold the $0.00001200 support, it could slide further toward $0.00001050. With the combination of intense sell-offs and weakening structure, the trend remains downward unless strong buying pressure and a reclaim of key moving averages emerge.
For now, both technical and fundamental indicators point to continued volatility and downside ris
k for SHIB.
