Shiba Inu Teeters on the Edge: 2 Trillion SHIB Dumped on Exchanges—Time to Panic?

Dogecoin’s scrappy cousin faces a make-or-break moment as whales unload a staggering 2 trillion tokens onto exchanges. Is this a coordinated dump or just another day in meme-coin chaos?

Price pressure mounts—liquidity floods in, but will buyers step up? SHIB’s community rallies (again), but the charts don’t lie: supply shock looms.

Remember: in crypto, ‘fundamentals’ are just vibes dressed up in a suit. Proceed with caution—or a margarita. Your call.

With fewer traders adopting a HODL strategy, the SHIB price may be subject to higher levels of volatility as more turn to short-term speculative trading.

SHIB Price Analysis: What Do These Traders Know?

This strategy shift comes amid a bearish flag pattern, developing since the mid-April market bottom—a potential brief pause before the bearish momentum continues.

The month-long price decline has pushed a retest of the pattern’s lower support, a key level that could give way to a pattern breakdown.

If breached, SHIB risks a 60% decline to the 1.618 Fibonacci level at $0.0000058, potentially wiping out all of its 2024 gains.

Momentum indicators currently hang in the balance. The RSI trends sideways just below the neutral 50 mark at 46—sellers dominate, but not decisively.

The MACD also widens its lead above the signal line after a recent golden cross, although only marginally, it supports the formation of a longer-term uptrend despite short-term bearishness.

In the NEAR term, the 0.618 Fib level at $0.000013 is a key support to watch.

A strong bounce could send the SHIB price up 35%, back toward the flag’s upper resistance around $0.00002, invalidating the pattern if it breaks out above.

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