DeFi & NFT
By Maheen Hernandez
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Shiba Inu is under mounting pressure as large-scale token sales trigger widespread concern across the market.
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According to data from blockchain analytics firm IntoTheBlock, whale investors offloaded 359 billion SHIB tokens within a single day—a dramatic 229% increase from previous…
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Supporting this, the Large Holders' Netflow metric dropped to a monthly low of just 4 billion SHIB, pointing to a trend of aggressive distribution rather than accumulation.
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However, the selling activity isn’t limited to high-net-worth participants. Market data indicates that a broader selloff is underway, with traders across all tiers appearing to…
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In total, more than 1.2 trillion SHIB tokens have been sold in recent sessions, reflecting a broad-based exit from the asset.
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Exchange-related metrics are also flashing warning signs. The Exchange Flow Balance for SHIB turned positive, currently sitting at 5.3 million SHIB.
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Additional data from CryptoQuant confirms this bearish trend. On May 2nd, SHIB recorded a net exchange inflow of 231 billion tokens.
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Historically, such patterns—high exchange inflows and large-scale sell-offs—have preceded significant price corrections.
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As expected, this surge in selling activity has already taken a toll on Shiba Inu’s price. At the time of writing, SHIB was trading at $0.00001324, marking a 1.
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If current trends continue, analysts suggest that SHIB could decline further, potentially revisiting the $0.00001274 support level.
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However, not all hope is lost. A shift in momentum, with increased buyer interest and positive price action, could pave the way for a rebound.
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The coming days will be crucial in determining whether Shiba Inu can stabilize—or if further downside is on the horizon.
The Currency Analytics
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