Shiba Inu Price Declines 26% Amid Whale Exodus and Market Concerns

Shiba Inu (SHIB) has experienced a 26% price drop over the past month, currently trading at $0.00001476 with a market cap of approximately $8.7 billion. While there was a slight increase of 1.35% in the last 24 hours, the overall trend remains bearish.

Current Market Situation

SHIB’s trading volume is around $111 million per day.
Large transactions have decreased by over 80% in the past 12 weeks, indicating reduced whale activity.
Key support levels are identified at $0.000011 and $0.000008.

Analyst Insights

Analyst Javon Marks noted an Inverse Head & Shoulders pattern, potentially signaling a reversal.
If this pattern holds, SHIB could rise by up to 400%, reaching $0.000081.
Market analysts show caution due to declining whale interest amidst positive technical forecasts.

The upcoming weeks will be critical for Shiba Inu's market stability. Investors should watch its ability to maintain prices within the identified support levels.