Shiba Inu has once again found itself in the crosshairs of the market after a massive whale transaction shook up the narrative. Just six hours ago, wallet address 0x6E45, dormant for over three years, deposited a staggering 100.45 billion SHIB (roughly $1.21 million) into Binance. While the move alone is enough to catch attention, the underlying story is even more revealing: this whale’s profit now stands at $311,000, though it once topped $2.7 million at SHIB's peak.
This event has injected a dose of caution into the market. The whale sell-off into an exchange often signals impending price pressure, particularly when it follows a consistent decline, as SHIB has endured recently. On the daily chart, SHIB continues to trend downward, trading below all major EMAs — 50, 100 and 200 — which reflects strong bearish momentum.
Volume, too, tells a revealing story. Over the past few sessions, price action has been accompanied by declining volume. This divergence, lower volume on downswings, could signal waning interest from sellers or an approaching phase of consolidation. However, without a strong catalyst, SHIB lacks the momentum to meaningfully reverse course on its own.
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From a structural standpoint, SHIB has just bounced slightly from the $0.0000112 zone — a crucial local support level. Any break below this could potentially push the asset toward the $0.0000100 psychological threshold. On the flip side, reclaiming $0.0000135 would be needed to reset any bullish hopes, especially with the RSI still floating below 43, hinting that SHIB is in neutral-to-bearish territory but not yet oversold.
The whale deposit adds weight to the bear thesis — not just because of volume but because it represents smart money exiting after holding through multiple cycles. While it is not an automatic red flag, it suggests belief in SHIB’s upside potential, at least in the short term, may be waning.
