Shiba Inu (SHIB) deepened the decline trend by losing 10 %in the last week. Shiba Inu, which is currently traded at $ 0.0000125, is facing the sales of major investors (whales). These large outlets can further weaken investor confidence and create new bottom levels in the price of SHIB.
Why do Shiba Inu sell investors?
On-Chain data show that Shıb whales have decreased by 123 %in the last week. This reveals that big investors rapidly disposed of Shiba Inu assets and increases sales pressure in the market.
Sales of whales can accelerate the wave of sales by frightening small investors. Currently, SHIB’s relative power index (RSI) is at the level of 35.34 and a decrease tendency. This indicator indicates that Shıb approaches the extreme sale zone, but has not yet entered there yet. If the demand does not increase, the price is highly likely to decrease.
Does the danger continue for Shıb?
Shıb has been under the downward trend line since December 8th. This technical formation shows that sales pressure is strong and that buyers have lost control over the market. If the current decrease trend persists, the price of SHIB may decrease to $ 0.00107 and reach the lowest level of the last 7 months.
However, if there is a recovery in Shıb demand, the price may rise to $ 0.0000166. Investors should follow the whale movements and the volume of Shıb in the coming days. If sales pressure continues, larger decreases in Shıb may be inevitable!
Latest situation in Shıb: Is a bigger drop at the door?
In order for Shiba Inu to get out of the fall trend, buyers need to return to the market quickly. However, if the sales of whales continue, the pressure on the price may increase. In particular, breakage of $ 0.0000120 support can start a new wave of decrease for Shıb up to $ 0.0000100.
Investors should carefully monitor the changes in transaction volume and the general aspect of the market in the coming days. If the sales pressure does not diminish, the hard days may continue for Shıb! It is of great importance that investors are careful and to invest by analyzing the market deeply.
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