Shiba Inu has recorded a staggering 12,887% surge in whale outflows, which on-chain analysis confirms stems from an extremely low initial outflow baseline rather than broad institutional selling pressure. This anomaly occurs as SHIB faces significant technical headwinds following its rejection near the $0.0000125 resistance level.
The cryptocurrency breached the $0.0000122 support threshold after failing to sustain bullish momentum. Current technical indicators show weakening conditions, with the Relative Strength Index hovering near 40 and trading volume progressively diminishing, signaling waning market participation.
SHIB now clings to interim support at $0.0000122 as investor sentiment turns cautious. Market observers note limited prospects for short-term price appreciation absent a new catalyst to reignite retail demand, despite the headline-grabbing outflow percentage.
Broader market conditions and fading momentum suggest continued caution for SHIB’s trajectory. Analysts emphasize the outflow spike reflects statistical baselines rather than panic selling, though bears currently dominate near-term price action pending significant market-moving developments.