SHIB Climbs Then Drops Steeply as Whales Shift to Bearish Stance

Shiba Inu (SHIB) has experienced volatile swings recently, with sharp price spikes followed by rapid declines, as on-chain whale activity turns cautious, signaling near-term bearish pressure.

After showing promising gains supported by high trading volume, SHIB quickly reversed course amid intensified selling. The token is now consolidating just below the resistance range of $0.00001450 to $0.00001600, where traders await a breakout or further downturn.

Blockchain data reveals a stark decrease in whale involvement, with netflows dropping by 311% and active wallet addresses falling 68% since December — a clear indication that major holders are trimming positions.

This mixed picture suggests SHIB remains stuck in a trading range, and a sustained move above the descending resistance line near $0.00002044 will be crucial to reversing the bearish trend.

With only 17% of holders currently profitable and the majority over 80% at a loss, any upward price movement could trigger significant selling pressure as investors seek to salvage gains or reduce losses.

Analysts remain split on SHIB’s near-term outlook: some see potential bullish setups, while others highlight deteriorating on-chain metrics as reasons for caution.

Technical Highlights:

Strong buying support emerged around $0.00001417 late in the day, sparking early momentum.
Significant volume surges above $700 million between 04:00-06:00 signaled heavy buying interest.
The final trading hour saw a 1.77% pullback, reflecting profit-taking.
A bearish EMA setup shows the price struggling to regain the 50-day moving average.
Hourly charts reveal a descending channel with lower highs and lower lows, reinforcing bearish sentiment.
A huge volume spike over 110 billion accompanied a breakdown below critical support, confirming selling pressure.