{"id":2520,"date":"2025-06-09T13:27:03","date_gmt":"2025-06-09T13:27:03","guid":{"rendered":"https:\/\/bitunikey.com\/news\/shiba-inu-price-plot-thickens-as-whales-dump-continues\/"},"modified":"2025-06-09T13:27:04","modified_gmt":"2025-06-09T13:27:04","slug":"shiba-inu-price-plot-thickens-as-whales-dump-continues","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/shiba-inu-price-plot-thickens-as-whales-dump-continues\/","title":{"rendered":"Shiba Inu price plot thickens as whales dump continues"},"content":{"rendered":"
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Shiba Inu price has already dropped 30% from its May high, and ongoing whale activity suggests further sell-off may be ahead this month.<\/p>\n

Shiba Inu (SHIB) has fallen from its May peak of $0.00001757 to $0.00001260, currently hovering at its lowest level since May 7.<\/p>\n

On-chain data reveals that whales have continued offloading their SHIB holdings this month\u2014a sign that larger investors expect more downside.<\/p>\n

Santiment data<\/a> shows that holders with between 100 million and 1 billion tokens hold 17.96 trillion tokens down from 19.5 trillion in the same period last year.\u00a0<\/p>\n

Similarly, holders with between 1 million and 100 million tokens have also been selling aggressively. As a result, the percentage of stablecoin supply held by SHIB whales has dropped to 52.4%, down from this month\u2019s peak of 56%.<\/p>\n

Additional data shows many of these investors are capitulating and selling at a loss. The closely-watched network realized profit\/loss (NRPL) metric has dropped to negative 1.04 million and has remained in the red for several consecutive days.<\/p>\n

<\/source><\/p>\n<\/picture>
Shiba Inu whale activity | Source: Santiment<\/a><\/figcaption><\/figure>\n

Whales may be exiting due to weakening fundamentals. Notably, Shiba Inu\u2019s burn rate has declined significantly in recent weeks, negatively impacting sentiment.<\/p>\n

Data from ShibariumScan also shows a sharp drop in on-chain activity. The number of active accounts has declined from 1,045 on June 6 to just 172 today, while transaction fees have fallen from 1,459 BONE on June 4 to 336 BONE on June 8. Falling activity on Shibarium is viewed as bearish, as fewer transactions are being converted into SHIB and burned.<\/p>\n

<\/p>\n

Shiba Inu price technical analysis<\/h2>\n
<\/source>
\n\"Shiba\n<\/picture>
SHIB price chart | Source: crypto.news<\/figcaption><\/figure>\n

The daily chart shows that SHIB peaked at $0.00001757 on May 12 before plunging to $0.00001250.<\/p>\n

Price action has formed a series of lower lows and lower highs, creating a descending channel pattern.<\/p>\n

SHIB has also moved below the 50-day and 100-day moving averages, as well as the key pivot and reversal level of the Murrey Math Lines.<\/p>\n

The descending channel suggests the potential for further downside, with key support at $0.00001043, its lowest level in April, representing a 17.80% decline from current levels. A move above the 50-day moving average at $0.00001361 would invalidate the bearish outlook.<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu price has already dropped 30% from its May high, and ongoing whale activity suggests further sell-off may be ahead this month. Shiba Inu (SHIB) has fallen from its…<\/p>\n","protected":false},"author":1,"featured_media":1410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=2520"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2520\/revisions"}],"predecessor-version":[{"id":2521,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2520\/revisions\/2521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1410"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=2520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=2520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=2520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}