Whales Dump Shiba Inu After 8-Month Range Break
Shiba Inu has fallen below the bottom of its eight-month trading range, dipping under $0.0000093 and forming a new short-term band between $0.0000093 and $0.0000113. On-chain data show intensified whale selling: top holders have reduced SHIB balances steadily since September, with spikes in dormant token movements on October 19 and 26 signaling large-holder distribution.
Burn rates surged by 139% last week but have since declined, mirroring broader memecoin weakness amid Dogecoin selling pressure. Technical indicators on the four-hour chart confirm bearish momentum: the MACD is negative, and rallies are rejected near $0.0000103, though the on-balance volume (OBV) has formed higher lows.
Traders should monitor whale accumulation and key support at $0.0000093. A sustained break below this level could accelerate the downtrend, while renewed buying by large holders may be required to stabilize Shiba Inu’s price.
Bearish
Shiba Inu’s break below an eight-month trading range, coupled with intensified whale selling and repeated resistance near $0.0000103, indicates sustained downward pressure. On-chain signals—such as declining whale balances and surges in dormant token movements—confirm continued large-holder distribution. The drop in burn rates and the broader weakness in memecoins, exemplified by Dogecoin’s sell-off, further dampen recovery prospects. Technical indicators (negative MACD on the four-hour chart) reinforce bearish momentum, despite higher lows on the OBV. Unless whales resume accumulation, Shiba Inu is likely to face further declines in both the short and long term.