Shiba Inu Price Flop Escalates, Whales Exit Bleeding Markets

Shiba Inu (SHIB) has undergone a significant price decline, with a 22.8% drop over the past 30 days. This decline coincided with large investors, commonly known as "whales", reducing their trading activity and dumping large amounts of SHIB tokens.

Whales' Activity Declines
Data from Glassnode shows that since the beginning of 2022, SHIB whales have significantly reduced their holdings. Specifically, the balance of large holders who initially accounted for 20% of the total SHIB supply has dropped sharply and remained low since July 2023. This indicates a mass withdrawal of large investors, which may have contributed to sharp price corrections.

Impact on SHIB Price
The sell-off by whales has put downward pressure on SHIB. The 4-hour chart shows that the Bollinger Bands (BOLL) are narrowing, with the upper band at $0.00001338 and the middle band at $0.00001292. This suggests that SHIB may continue to face selling pressure in the short term.

SHIB Market Sentiment and Community
Despite the price drop and the decline in whale activity, the SHIB community remains loyal and active. The number of followers on social platforms such as X (formerly Twitter) continues to increase, indicating strong support from the community. This may play an important role in maintaining and recovering the value of SHIB in the future.

Conclusion
The decrease in whale activity and the sell-off of SHIB has negatively affected the price of this token. However, community support and technical factors could play an important role in determining SHIB's price trend in the coming time.