Weak buying pressure among Shiba Inu holders since its price peaked at $0.00001406 on Saturday.
It is trading at $0.00001304 at the time of publication and hovers above a critical support level at $0.00001295, suggesting that SHIB is poised for further declines in the near term.
SHIB coin investors are shifting to short-term profits
SHIB investors have reduced their holding time, which is a clear signal that bearish sentiment around the meme coin is increasing. Data from IntoTheBlock shows that the average holding time for traded SHIB tokens has decreased by 78% over the past seven days.
This sharp decline indicates that holders are increasingly choosing to sell or transfer their SHIB tokens quickly to secure recent gains rather than holding them for long-term profit.
When the holding time of an asset decreases, its investors are less confident in its future value and focus more on short-term gains or minimizing losses.
In the case of SHIB, the trend confirms that many holders are reacting to recent price fluctuations by selling quickly, contributing to increased selling pressure in the market.
Furthermore, the decrease in SHIB whale activity during the review period adds to this bearish outlook. According to IntoTheBlock, the net flow of large coin holders has dropped by 24% over the past seven days.
When this grows, these large holders accumulate the asset by buying more than they sell.
Conversely, when the net flow of whales is negative, these holders are dumping their positions by selling more tokens than they buy. This behavior reduces the upward buying momentum that whales typically provide, leaving Shiba Inu more vulnerable to market volatility and bearish trends.
Shiba Inu risks sliding towards $0.00001167
The decrease in support from major Shiba Inu holders and shorter holding periods by retail investors indicates the potential for continued bearish price movement for Shiba Inu. In this scenario, the meme coin faces the risk of falling below $0.00001295 to reach $0.00001167.
However, if new buying interest emerges, Shiba Inu could reverse its downward trend and rise to $0.00001385.