BitMEX Exchange Delisting Sparks SHIB Selloff, Whale Activity Offers Glimmer of Hope

Shiba Inu continues to face downward pressure as SHIB breaches critical technical support levels, significantly underperforming the broader cryptocurrency market. The token has declined 1.73% over the past 24 hours and 1.34% weekly, with its market capitalization now standing at $7.73 billion. Trading volume reveals more concerning trends—plummeting 22% to $217 million as liquidity concerns intensify following the BitMEX delisting.

Despite the bearish momentum, whale activity provides a potential catalyst: a single transfer of 1 trillion SHIB ($13 million) has reignited speculation about large investor accumulation. Technical analysis shows repeated failures to maintain support above $0.0000139, with current price action hovering at $0.00001312. Momentum indicators remain bearish—the MACD displays weakening bullish strength while the RSI sits at 43.33, indicating neutral-to-negative market sentiment.