- Shiba Inu whale activity has dropped 79% in three months, signaling reduced interest from major investors.
- Shiba Inu’s price fell 5.5% amid market downturns and the recent Bybit hack, pushing it to an 18-day low.
Shiba Inu (SHIB) has seen a massive 79% drop in whale activity over the past three months, according to crypto analyst Ali Martinez. This sharp decline suggests that large investors are pulling back, possibly due to weakening sentiment in the meme coin market.
Whale transactions, which involve at least $1 million worth of Shiba Inu, often signal smart money movements. A decline in these large transactions indicates reduced confidence from major holders.
SHIB Struggles Amid Market Downturn
The recent decline in whale activity comes at a time when SHIB is already struggling. The meme coin is down 5.5% in the past 24 hours and has lost 7.4% of its market value over the past week. Its year-to-date losses now stand at a staggering 30.1%.
Other meme coins are also suffering. Dogecoin (DOGE) dropped 12.4% in the past week, while Pepe (PEPE) and Bonk (BONK) fell by 9.6% and 13.9%, respectively. The overall meme coin market is down 40.5% in the past month, slashing its total market cap in half from its November-December highs.
Bybit Hack Adds to Selling Pressure
SHIB’s decline intensified following the recent Bybit hack, which shook investor confidence across the crypto market. Before the hack, SHIB was climbing above $0.000016, showing signs of recovery. However, the sell-off pushed SHIB to its lowest level in 18 days, wiping out gains from the Trump-linked rally that briefly sent it to a December high of $0.00003336.
With SHIB now below its pre-election price, the outlook remains bearish. The next key support level sits at $0.00001250, meaning another potential 15.4% drop if selling pressure continues.
Shiba Inu : What’s Next for Investors?
While SHIB’s current trend is concerning, some investors are shifting focus to emerging opportunities like MIND of Pepe ($MIND). This AI-driven crypto project has raised $6.8 million in its presale, offering investors access to AI-generated insights and staking rewards.
For SHIB holders, the coming days will be crucial. If SHIB fails to hold its support levels, further declines may follow. However, a shift in market sentiment or increased whale activity could signal a rebound. Investors should closely monitor these trends before making their next move.
