Neutral
Shiba Inu (SHIB) maintains support at $0.00000516 amid whale selling and bearish derivatives data.
Over the past week, Shiba Inu (SHIB) has held its ground above the key support level of $0.00000516, despite significant selling by large holders and bearish signals from the derivatives market. Whale wallets have sold approximately 40 billion SHIB since August 22, while smaller whales have accumulated around 990 million SHIB during the same period. Additionally, the derivatives market shows a bearish trend with a long-to-short ratio of 0.93, indicating more traders expect the token's price to fall.
Key points
- Shiba Inu maintains support at $0.00000516 amid whale selling and bearish derivatives data.
- Whale wallets have sold approximately 40 billion SHIB since August 22, potentially increasing market supply.
- The derivatives market shows a bearish trend with a long-to-short ratio of 0.93, indicating more traders expect the token's price to fall.
- Smaller whales have accumulated around 990 million SHIB during the same period, suggesting some buying interest.
Sources
AI-generated from public news sources. Not financial advice.
