Whales Trigger 43% Decline in Shiba Inu Amid Ecosystem Challenges
- Shiba Inu (SHIB) fell 43% to $0.0000099 due to weak burns, stalled Shibarium, and whale selling. - Shibarium's TVL dropped to $878,000 with 18 active developers, while ShibaSwap's hack worsened ecosystem instability. - Whale outflows and bearish technical patterns signal further declines, with a key support level at $0.000006946. - Historical November trends and macro risks like Fed policy amplify concerns amid broader crypto market sell-offs.
Shiba Inu (SHIB) is under increasing strain as its value keeps sliding, influenced by technical shortcomings, ecosystem setbacks, and changing investor attitudes. The token has dropped to $0.0000099, marking a 43% decrease from its yearly high and standing 70% below its peak in November 2024, according to a
The burn rate—the pace at which
Large holder activity has worsened the decline. Nansen data reveals major outflows from top SHIB holders, who have cut their positions to the lowest levels in months, as Invezz reports. Savvy investors have followed suit, selling off their holdings amid expectations of further losses. On-chain indicators point to continued bearishness, with SHIB trading below important moving averages and displaying descending triangle and bearish flag formations on daily charts, according to Invezz. Analysts caution that if SHIB falls below $0.000006946, it could prompt even more selling.
Past performance also urges caution. Over the last four Novembers, SHIB has averaged a 0.26% return but suffered a median loss of 9.1%, highlighting seasonal risks, according to a
Despite these headwinds, some experts point to possible triggers for recovery. Community-led efforts and upgrades within the ecosystem may help renew interest, though Shibarium’s ongoing difficulties remain a concern. For now, investors are encouraged to keep an eye on blockchain activity and global economic trends as SHIB navigates a precarious environment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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