Shiba Inu Falls as Investors Trigger Sell-Off
Key Takeaways
- Major investors (“whales”) sold 359 billion Shiba Inu (SHIB) tokens within a single day.
- All market participants – from retail investors to large holders – are showing a willingness to sell.
- Strong inflows to exchanges suggest continued selling pressure.
- SHIB experienced a price drop of 8.4% over the past week.
Strong Selling Pressure from Major Investors
Shiba Inu (SHIB), a well-known memecoin, is currently facing significant selling pressure. Particularly notable is the behaviour of so-called “whales” – large investors who hold substantial amounts of the token. According to data from IntoTheBlock, outflows from this group surged by 229% in just one day – from 109 to 359 billion SHIB.
The so-called “netflow” of large holders dropped to a one-month low of 4 billion SHIB. This indicates that significantly more tokens were sold than purchased. Such movements often reflect declining confidence in the future price trend.
Retail Investors Are Selling Too
It’s not just the major investors who are offloading their SHIB holdings. Other market participants are also showing a willingness to sell. According to Coinalyze, the buy-to-sell volume ratio showed a negative balance of 134.15 billion SHIB, clearly favouring sellers. In total, around 1.2 trillion tokens were sold.
Such a negative balance indicates that sell orders are dominating – a clear sign of a pessimistic market sentiment.
Exchange Inflows Reinforce the Trend
Another warning signal comes from the so-called “exchange flow balance,” which indicates whether more tokens are being deposited to or withdrawn from exchanges. For SHIB, this value currently stands at +5.3 million SHIB – meaning deposits are outweighing withdrawals.
More deposits to exchanges typically suggest that investors are preparing to sell. This trend is supported by data from CryptoQuant: on May 2nd, the net inflow was 231 billion SHIB, and currently it stands at 21 billion. Altogether, this results in a net inflow of 252 billion tokens in just two days.
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Impact on the SHIB Price
The consequences of these developments are clearly reflected in the price trend. At the time of analysis, the SHIB price stood at USD 0.00001324 – a decline of 8.4% over the past week and 1.84% in the past 24 hours.
If the selling pressure continues, a further drop to USD 0.00001274 is possible. Only a daily closing price above USD 0.00001376 could signal a trend reversal. In that case, a rise to USD 0.00001397 would be conceivable.
Our Assessment
The current data clearly points to a phase of uncertainty and selling pressure for Shiba Inu. Both major investors and retail traders are pulling back. The strong inflows to exchanges confirm this trend.
For you as an investor, this means: caution is advised. As long as the selling pressure persists and no signs of reversal are visible, the risk of further price declines remains high. Those already invested should closely monitor market developments. New entries should be carefully considered – ideally only when signs of stabilization emerge.
Sources
- IntoTheBlock
- Coinalyze
- Santiment
- CryptoQuant
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