Crypto
Shiba Inu (SHIB) Slides 11% As Whale Activity Weighs On SHIB
Shiba Inu (SHIB) price drops 11% as whale activity, weakening trader participation, and bearish sentiment signal growing selling pressure.
4h ago 4,280
BLOCKINSIDERLoadingShiba Inu (SHIB) price drops 11% as whale activity, weakening trader participation, and bearish sentiment signal growing selling pressure.
The popular meme coin Shiba Inu (SHIB) appears to be erasing its recent gains, as the token has plunged over 8.5% in the past 24 hours. The daily chart on TradingView shows that the meme coin surged over 35% in the previous three trading days, rising from $0.000004132 to $0.000005312.
But the shift in market sentiment alongside whale potential profit-taking seems to be the key factor behind this decline.
At press time, SHIB traded at $0.000004604. Meanwhile, its trading volume during the same period has fallen 40% to $154 million, indicating declining of market participation.
On July 27, 2026, the on-chain platform, Santiment, shared a post on X, revealing that during the upward momentum, when the SHIB price was approaching its recent high of $0.000005375, a key resistance level, 52 SHIB whale transactions were recorded in a single day.
This was the highest level of whales' participation since March 31, 2026. In fact, the post on X further noted that this kind of activity strongly suggests that larger holders took profit on the strength.
The post further stated, “Retail attention arrived late. The social spike after the vertical pump suggests smaller traders chased the excitement near the top, giving whales the liquidity needed to reduce their exposure. As usual, especially with memecoins, take profit when retail FOMO starts surging across your timelines. Buy back in when the crowd begins turning on the asset and calling it a scam.”
According to the on-chain analytics platform Nansen, the top 100 SHIB wallet holders on Hyperliquid have reduced their net holdings by 63.11 million, a fall of 8.48% over the past 24 hours, representing fading interest from large holders.
Meanwhile, traders with consistent profits have also reduced their exposure, as their buying activity has weakened significantly. Data shows that over the past 24 hours, traders with a strong derivatives track record added 6.37 million SHIB. Nansen's indicator also showed a 222% day-over-day change in buying activity, reflecting a sharp slowdown in accumulation.
These datasets together hint at fading interest from top holders and traders in the meme coin, which is weakening SHIB's broader market sentiment.
Looking at the daily chart on TradingView, SHIB’s short-term bias appears bearish and is now approaching a key support of $0.0000045. This level previously acted as strong resistance but has now turned into key support following the breakout on July 25, 2026.
Based on the current price action, if SHIB remains above the $0.0000045 level, a potential recovery could be possible. In this case, the meme coin may see an upward move and could reach $0.000005312, a key resistance level.
However, if the SHIB price falls below the 0.0000045 level, a sharp downside move could be possible. In this case, the meme coin could fall to the next support at the $0.0000041 level, marking an 8% dip.
At press time, the Average Directional Index (ADX) rose to 28.09, above the key threshold of 25, indicating that SHIB has strong trend strength. Meanwhile, the meme coin's broader sentiment remains bearish as the price continues to trade below the 200-day Exponential Moving Average (EMA), indicating strong seller dominance.
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