SHIB Price Falls 4.5% as Whale Cashes Out $1.21 Million Holdings
Shiba Inu ($SHIB) Update
- $SHIB has dropped over 4.5% in 24 hours, now at a critical support level of $0.000012.
- A major whale sold 100.45 billion SHIB ($1.21 million) after three years, realizing a profit of approximately $311,000.
- The overall meme coin market fell by 5.5%, with SHIB's market cap decreasing by over $300 million.
Price Outlook
- $SHIB is down 5% over the last month and 51% year-over-year.
- The daily chart indicates oversold conditions, with potential for a short-term bounce.
- A breakdown below $0.000012 could lead to targets of $0.0000105 or $0.000009.
- Holding above $0.000012 could target $0.000016 if a medium-term reversal occurs.
- The MACD indicator shows a bearish trend unless bullish volume increases.
SHIB price chart with RSI and Bollinger Bands | Source: TradingView
SHIB price chart with MACD | Source: TradingView