Shiba Inu Sees Heavy Selling at 3-Week Price Peak

Shiba Inu’s price has climbed over the past week, sparking short-term optimism among investors. 

The meme coin is trading near a three-week high, but the surge also highlighted vulnerability among holders. Many long-term investors (LTHs) have started selling, putting downward pressure on SHIB.

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.

Sponsored

Sponsored

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.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

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.