Shiba Inu’s Woeful Tale: A Whale’s Gamble & a Death Cross Looming 😱

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A whale, emboldened by the recent market dip, made a daring move, acquiring a staggering 257.5 billion Shiba Inu tokens – a purchase that must have sent ripples through the cryptosphere. This extravagant investment, totaling a hefty $4.6 million, now brings the whale’s Shiba Inu holdings to a grand total of 477.5 billion tokens, worth a princely sum of $8.57 million. Alas, this bold maneuver occurred just as the Shiba Inu token was experiencing a rather unfortunate 7.76% crash in the past 24 hours, leaving it trading at a mere $0.00001833. 📉

The news of this whale’s prodigious appetite for Shiba Inu tokens was first reported by the astute observers at Lookonchain, those intrepid detectives of the blockchain. Their keen eyes spotted the transaction, sending a ripple of gossip through the digital grapevine. 🍇

After the market dropped, this whale accumulated another 257.5B $SHIB($4.6M).

This whale currently holds 477.5B $SHIB($8.57M).

— Lookonchain (@lookonchain) January 27, 2025

Oh, the cruel irony! 💔 Shiba Inu, once a darling of the crypto scene, has fallen from grace. Its market cap, once reaching for the stars, now languishes at a mere $10.8 billion, a far cry from its former glory. It has even been dethroned from its position among the elite, dropping to a lowly 17th place on CoinMarketCap. The arrival of the “TRUMP” token has dealt a blow to Shiba Inu’s dominance, now boasting a market cap of $5.4 billion.

Shiba Inu’s Death Cross: A Harbinger of Sorrow?

Adding to the woes, Shiba Inu sellers seem to have taken hold of the market, as evidenced by the dramatic 260.65% spike in trading volume within the past day. A glance at the Accumulation/Distribution indicator, like peering into a crystal ball, confirms the dominance of sellers. 🔮

Source: TradingView

The daily chart, provided by the ever-reliable TradingView, reveals a troubling sight: the 50-day Moving Average is perilously close to crossing beneath the 200-day Moving Average. This ominous “death cross” – a signal of impending doom – is a source of great anxiety for Shiba Inu enthusiasts. 😩

Source: TradingView

Shiba Inu’s Price: A Tale of Woe

The Shiba Inu price analysis, as presented by the insightful TradingView, reveals a disheartening truth: Shiba Inu is currently retesting the lower end of the Bollinger Bands. A fall from this precarious perch would result in a dire crash. As reported by Coinspeaker, the crucial price zone of $0.0000185 to $0.0000212 must be reclaimed to prevent further price decline. 😔

Source: TradingView

Adding fuel to the fire, the On-Balance Volume (OBV) indicator has begun its descent, mirroring the current downward price trend. This indicator, a measure of positive and negative volume flow, sadly aligns with the price crash, suggesting a continuation of this bearish trend. 😔

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2025-01-27 21:29