Buy-side pressure among Shiba INU holders is weakening as prices reached $0.00001406 in the day on Saturday.
Traded at $0.00001304 at press and hovering just above the key support level of $0.00001295, Shiv appears to be poised for further declines in the near future.
SHIB investors move towards short-term profits
Shiv investors have reduced their holding times. This is a clear signal that bearish emotions around the meme coin are growing. IntotheBlock data shows that the average retention time for transtacted Shib tokens has plummeted by 78% over the past seven days.
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This sudden decline suggests that holders are increasingly choosing to sell or move their siv tokens quickly to lock up recent profits rather than retaining long-term profits.
As assets’ holding times decrease, investors are losing confidence in their future value and focusing on minimizing short-term profits and losses.
In Shib’s case, this trend confirms that many holders are responding to recent price volatility by cashing out faster, contributing to increased market sales pressure.
Furthermore, the decline in activity of shibu whales during the review period attracts this bearish view. Following Intotheblock, Meme Coin’s large holder Netflow has plummeted 24% in the past seven days.
Large holders are the addresses of whales that hold more than 1% of the distribution supply of assets. Their Netflow measures the difference in the amount of assets they buy and sell over a specified period.
As this grows, these large holders are accumulating their assets by buying more than they sell.
Conversely, when whales have negative net flows, these holders are offloading their positions by selling more tokens than they would buy. Such behavior reduces the upward buying momentum that whales normally offer, and makes Shivs exposed by market volatility and bearish trends.
Shiv risks sliding to $0.00001167
The decline in support from SHIB keychains and shorter holding times by the average investor suggest a potential continuation of Shiv’s downward price transfer. In this case, Meme Coin is at risk of less than $0.00001295, reaching $0.00001167.
However, if new demand reappears, Shiv could reverse that decline and rise to $0.00001385.
Pressing the token towards a new low, half the retention time on Shibai Island, first appeared in beincrypto.
