- How 12,887% appeared
- Momentum invalidated
A recent on-chain anomaly on the Shiba Inu network has drawn the attention of the market: a reported increase in large holder outflows of +12,887% over the last 30 days. However, despite the numbers’ dramatic appearance, the truth is much more complex — and less optimistic.
How 12,887% appeared
When the base value is very small, it is mathematically possible to get a percentage like 12,887%. If outflows were 10 million SHIB yesterday and 1.3 billion SHIB today, for instance, the percentage increase checks out, but it does not necessarily indicate a mass exodus or panic.
Rather than a structural change in sentiment, it might even be the result of delayed whale activity or portfolio reorganization. More context is provided by the outflow changes of +58% and +34% over the 7- and 90-day periods respectively: movement is there, but it is not revolutionary. However, it indicates a steady increase in whale exits, which is important to consider for an asset as liquid as SHIB.
Momentum invalidated
SHIB fell after encountering significant rejection at about $0.0000125, invalidating earlier bullish momentum. Increased volume and the denial were correlated, indicating sell-side conviction. While it is not yet oversold, the price is currently close to short-term support at $0.0000122, with diminishing volume and a weakening RSI circling 40. What is the true signal here?
You Might Also Like
The price action and outflow metrics indicate cautious behavior from major players, which may be the result of a lack of confidence after failed resistance retests or broader market uncertainty. Any short-term gains are therefore unlikely unless there is a significant surge in retail demand, which has not happened yet.
Market shift is less important than the +12,887% statistic. SHIB is obviously in a precarious position though, given price rejection and mounting pressure from whales to exit the market. One poor move by the larger cryptocurrency market could hasten the decline. Bulls will require a new motivator to change their attitude. Caution is still the better course of action until then.