Shiba Inu Long-Term Holders Dump Holdings as Price Hits 3-Week Peak
Just as Shiba Inu claws its way to a three-week high, the so-called 'diamond hands' are cashing out—big time.
The Mass Exodus
Long-term holders aren't waiting around to see if this pump has legs. They're selling aggressively into strength, locking in gains while retail FOMO builds. Classic smart money move—exit when the crowd arrives.
Timing the Top?
This isn't panic selling. It's calculated profit-taking from investors who've been through enough crypto cycles to know when to reduce exposure. The timing suggests they might see limited upside from current levels.
Market Mechanics at Play
Increased selling pressure at resistance levels could cap short-term momentum. But hey—what's a little distribution between friends? It's not like crypto markets are known for rational price discovery anyway.
Another day, another 'buy the rumor, sell the news' playbook execution. Because in crypto, the only thing stronger than community sentiment is the urge to take profits when you've got them.
Shiba Inu Investors Are Losing Confidence
On-chain data shows a sharp spike in the age consumed metric, which tracks when long-held tokens are spent. The indicator reached a three-month high, reflecting heavy selling by LTHs. Such activity typically signals profit-taking after rallies.
Because LTHs hold significant supply, their actions often shape price direction. Large sell-offs tend to weaken investor confidence and drag the market lower. With SHIB facing this pressure, the risk of retracement has increased despite the recent upward move.
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The exchange net position change metric further supports the bearish outlook. Green bars on the indicator highlight rising inflows, suggesting investors are transferring tokens to exchanges to sell. This trend reflects a decline in optimism among shiba inu holders.
In just five days, over 906 billion SHIB, worth $11.6 million, have been sold into exchanges. This sustained selling pressure reveals growing caution in the market. While Shiba Inu achieved a short-term rally, investor sentiment does not currently back a prolonged recovery.
SHIB Price To Bounce Back
Shiba Inu has been up 6.69% in the past week, with token trading at $0.00001291. The meme coin is attempting to establish $0.00001285 as a support level, holding near its recent peak.
However, maintaining this momentum appears difficult without strong investor conviction. If selling continues, SHIB could drop toward $0.00001252 or even lower to $0.00001182, erasing recent gains.
On the flip side, if the shiba inu price successfully defends the $0.00001285 support, a rebound may follow. In that case, SHIB could push toward $0.00001391, which would invalidate the bearish outlook and signal renewed strength.
