Shiba Inu (SHIB) confronts accelerating selling pressure as substantial token transfers and breached technical indicators signal deepening bearish momentum. Blockchain activity recorded the movement of over 4.87 trillion SHIB tokens within 24 hours, underscoring heightened distribution activity by holders.
The cryptocurrency has decisively broken below its 50-day Exponential Moving Average and trends toward the critical support threshold of $0.00001200. On-chain metrics further reveal increased asset redistribution, with SHIB’s seven-day transfer average reaching 2.72, reflecting dwindling storage amid market turbulence. Price charts display a sustained descending pattern, forming a bearish structure compounded by speculative forces and fundamental headwinds.
Analysts suggest a short-term recovery remains improbable absent substantial market stabilization or reversal signals. This convergence of technical deterioration and on-chain outflow points to persistent downside risks for the meme coin.