Momentum indicators echo the weakness. The MACD histogram shows fading bullish momentum. This is while the RSI is sitting at 43.33, which reflects neutral-to-bearish sentiment. Bollinger Bands show price testing the mid-band, with risks of further downside toward support at $0.00001260. It is worth noting that a deeper slide could see SHIB price testing the next floor at $0.00001164, while resistance lies overhead at $0.00001359 and $0.00001440.
Whale Moves and Delisting Shape Sentiments
Beyond technicals, external factors have weighed heavily on SHIB. The BitMEX delisting of SHIB perpetual contracts reduced derivatives liquidity. This makes it harder for traders to speculate on leveraged positions. At the same time, whale activity has remained rather still, large transactions (>$100k) have dropped 88% since mid-June. According to IntoTheBlock, the daily volume of such trades sits at just $23.36 million.
However, not all signals are bearish. On September 4, exchange outflows hit 5.3 billion SHIB, suggesting coins were moved into cold storage. That being said, long-term holders seem unwilling to panic-sell. The latest whale move, of nearly 1 trillion SHIB transferred, adds intrigue, hinting at accumulation and sparking speculation.
FAQs
Because of low trading activity, the BitMEX delisting, and fewer big investors buying in.
Watch support at $0.00001260 and $0.00001164. On the upside, resistance is $0.00001359 and $0.00001440.
Yes, the recent 1T SHIB transfer suggests potential accumulation, which could drive volatility.
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