SHIB Rockets Upwards Only to Reverse as Whale Sentiment Turns Negative

Shiba Inu’s recent trading activity highlights volatile swings marked by quick rallies followed by sharp reversals, as whale movements hint at mounting bearish sentiment.

Initially, SHIB showed strong bullish momentum with notable volume surges, but the enthusiasm was short-lived as heavy selling pressure pushed prices back below critical resistance levels between $0.00001450 and $0.00001600.

On-chain analysis reveals a sharp decline in whale netflows—down by over 300%—and a significant drop in active wallets by 68% since December, signaling that large holders are trimming positions.

Technically, SHIB is caught in a descending channel, struggling to break past the 50-day moving average. The market structure suggests sideways trading might persist until a decisive break above the $0.00002044 trendline resistance occurs.

With just 17% of holders currently in the green, a strong price bounce could face immediate selling as most investors attempt to minimize losses.

The outlook remains mixed among analysts: some highlight potential bullish setups, while others warn that weakening whale activity could pressure the token further in the short term.

Technical Summary:

• Key support at $0.00001417 held with high volume during evening hours, fueling initial buying.
• Volume spikes exceeding $700 million during early morning confirmed short-term buying interest.
• A 1.77% price pullback late in the session suggested profit-taking after gains.
• A bearish exponential moving average (EMA) alignment points to downward pressure.
• Lower highs and lows on hourly charts form a descending channel, signaling bearish momentum.
• Over 110 billion in trading volume accompanied a break below support, confirming selling dominance.