Shiba Inu (SHIB) dropped 3.4% in the last 24 hours, and it’s not just a random dip. Behind the move lies a textbook case of resistance rejection, heavy whale activity, and a macro crypto environment that’s far from friendly to meme coins. Let’s break down what’s really happening, and why it matters for SHIB holders.
Whales Are on the Move But Not Always Selling
Large SHIB holders have been unusually active over the past day. Billions of tokens moved between exchanges and cold wallets, explaining why the price is drifting down rather than collapsing.
For example, 2.2 trillion SHIB left Coinbase’s “0xA9D” hot wallet in six tranches, landing in a single fresh wallet worth roughly $18.76 million. Importantly, this wallet isn’t known for quick sell-offs, this looks more like strategic repositioning than panic selling.
The outflows go far beyond that one wallet. Analysis shows over 8 trillion SHIB withdrawn from exchanges in a single day, one of the largest outflows in months. Exchange balances dropped sharply, wiping out roughly a week’s worth of SHIB sitting on trading venues. Even though SHIB remains below its 200-day moving average with weak momentum, it’s stabilizing in a short-term range. In other words, selling pressure is easing, but the trend hasn’t turned bullish.
Yet it’s not all smooth sailing. Santiment reports show whale activity at its highest since June, along with a 1.06 trillion SHIB uptick in some exchange balances. This two-sided flow some whales moving tokens off exchanges for long-term holding, others keeping enough to trade keeps SHIB stuck in a narrow band, creating minor dips without dramatic crashes.
Resistance Rejection: $0.0000090 Holds Firm
Technically, SHIB’s move makes perfect sense. The token recently tried, and failed to break above the $0.0000090–$0.0000091 resistance zone that has capped price for nearly a month.
Sellers jumped in immediately. The chart still shows lower highs and lower lows, volume is fading at resistance, and key exponential moving averages continue to block the path upward.
Here’s the 24-hour snapshot: SHIB started near $0.00000857, briefly spiked to $0.00000872 (still below resistance), then rolled back to around $0.00000828, a classic 3–5% fade after a failed breakout. Support levels around $0.0000082–$0.0000080 are holding for now, with stronger buying previously seen near $0.0000075.
The bigger picture isn’t helping SHIB either. The crypto market is in a range-bound environment, with Bitcoin expected to linger below $100,000 and no major catalysts on the horizon. Fear & Greed Index sits at 29 (“Fear”), while the Altcoin Season Index reads 18 (“Bitcoin Season”). That means flows are heavily skewed toward BTC, leaving meme coins like SHIB to compete for scraps.
Stablecoin inflows to exchanges have halved since August, signaling that new liquidity is drying up. In this climate, even high whale activity doesn’t spark rallies because retail capital isn’t chasing SHIB. Meme coins are up against not just BTC and ETH, but also fresh narratives capturing investor attention.
The Bottom Line: Repositioning Without a Rally
SHIB’s 3.4% slide isn’t caused by a single headline, it’s the result of a perfect storm: failed resistance, a cautious macro backdrop, and heavy but mixed whale flows. The takeaway? SHIB is drifting down modestly, technically weak, and trapped in a consolidation band, until new demand or a market catalyst changes the equation.
For traders and holders, that means patience is key. Watch resistance levels, monitor whale flows, and keep an eye on macro signals. A breakout could happen, but for now, SHIB is playing it safe—and so should you.
