Shiba Inu (SHIB) has recently experienced a 13% decrease in value, yet a group of whale investors continues to show confidence by accumulating more tokens. Despite this, short-term holders are selling off SHIB, exerting downward pressure on prices, potentially preventing short-term rallies.
Analysis of SHIB's supply distribution reveals that whales controlling between 10,000 and 100,000 coins have increased their holdings, possibly due to SHIB's undervalued status. In contrast, short-term holders, who have only held coins for less than 30 days, are selling, adding to price declines.
Despite whales increasing holdings due to negative market value to realized value ratios, short-term holders' sell-offs reflect cautious market stances. These actions, coupled with dropping on-balance volume, imply potential downward movements unless demand spikes.
If short-term holders start accumulating, Shiba Inu could see a 69% price rise, but falling on-balance volume suggests bearish trends as demand decreases.
