• Whales trimmed large SHIB holdings, signaling reduced confidence and weakening support.
• Long liquidations surged, driving bearish sentiment and lowering open interest on derivatives.
• Price risks deeper correction unless broader market recovery lifts SHIB above key resistance.

Shiba Inu — SHIB, is not just limping, it’s bleeding. The meme token slipped again on Thursday, dragging along a 3.22% drop from the day before. Prices now flirt with danger near the 50-day EMA. Meanwhile, whales are jumping ship, and fewer holders remain in profit. This combination forms a cocktail of fear and uncertainty. With support levels getting tested and indicators flashing red, traders now face one pressing question: how much lower can SHIB fall?

Whale Wallets Trigger Worry

Large investors are pulling back, and the data shows the damage. Santiment reports a sharp trim in wallets holding 10M to 100M SHIB. These wallets now hold 9.34 trillion tokens—a 9 billion SHIB drop since January 1. Even larger wallets, holding between 100M to 1B SHIB, shed 720 billion tokens. That’s a serious retreat and a strong signal that major players are losing faith. Profitability has taken a nosedive too. At the start of the year, 75% of SHIB was in profit.

That number now sits at 23%. The majority of holders are underwater, and morale has sunk like a stone in deep water. Derivative data also reflects the storm brewing beneath the surface. Open interest dropped 3% to $172 million. A wave of long liquidations wiped out bullish bets, totaling $331K in 24 hours. Short liquidations came in much lower, only around $15K. The imbalance speaks volumes—bears hold the reins now. Funding rates remain positive, resting at 0.0084%.

Chart Signals Favor More Downside

The daily chart paints a somber picture. SHIB formed another lower high and failed to reclaim the 50-day EMA. That rejection signals further weakness. A continued drop could take SHIB toward the $0.00001200 support. Below that, key zones lie at $0.00001150 and the year’s low at $0.00001029. These are the next lines of defense. If price slices through them, panic may set in among retail traders.

Short sellers may follow the trend, trailing stops to lock in profits as support levels crumble. Technical indicators offer little hope. The MACD sits flat, delaying any bullish crossover. Momentum looks tired. Meanwhile, the RSI hovers at 43 and trends downward. With plenty of room before reaching oversold territory, the bears may push further without much resistance.

However, a glimmer of hope exists. If SHIB breaks above $0.00001421—last seen on March 26—bulls could regroup. Resistance above lies at $0.00001550 and $0.00001700, two levels marked by February peaks. But for now, gravity seems stronger than optimism. SHIB needs more than hope to climb again. The whales have spoken.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed