Shiba Inu (SHIB) has dropped 4% due to a surge in profit-taking by holders. Bearish indicators suggest a potential drop to the $0.000020 support level unless demand rebounds.
- 62% of SHIB holders are in profit, triggering a selling wave that pushed prices down.
- A bearish MACD crossover has formed, with the MACD line dipping below the signal line.
- The $0.000022 support level** is critical; losing this could send SHIB to **$0.000020.
The recent meme coin rally propelled SHIB to an 8-month high of $0.000030 on November 12. While this surge turned a significant portion of SHIB’s supply profitable, shifting market sentiment has led holders to cash in gains.
Shiba Inu Holders Capitalize on Profits
IntoTheBlock’s Global In/Out of Money metric reveals:
- 829 trillion SHIB (held by 851,000 addresses) are "in the money."
- 82.39 trillion SHIB (held by 398,000 addresses) remain "out of the money."
👉 Why are SHIB holders selling now?
Current data shows 62% of holders are profitable, reigniting profit-taking activity. This is reflected in SHIB’s declining Chaikin Money Flow (CMF), which sits at 0.08 and trends downward toward the zero line. A weakening CMF signals fading buying momentum and eroding confidence in the uptrend.
Bearish MACD Signals Further Decline
SHIB’s Moving Average Convergence Divergence (MACD) confirms the bearish outlook:
- The MACD line (blue) has crossed below the signal line (orange).
- This crossover typically indicates rising selling pressure and potential price drops.
SHIB Price Prediction: Drop to $0.000020?
At $0.000025**, SHIB is down **4%** in 24 hours but still holds above the **$0.000022 support. If this level breaks, the next target is $0.000020.
👉 Can SHIB recover? Key levels to watch
Bullish Scenario: If profit-taking subsides and demand resurges, SHIB could reclaim $0.000026** resistance and retest its 8-month peak of **$0.000030.
FAQ Section
1. Why is SHIB dropping despite high profits?
Profit-taking by 62% of holders has increased selling pressure, outweighing demand and driving prices down.
2. What does the MACD crossover mean for SHIB?
A bearish MACD crossover suggests momentum is shifting downward, often preceding further declines.
3. How critical is the $0.000022 support level?
Losing $0.000022 could accelerate losses, potentially pushing SHIB toward $0.000020.
4. Could SHIB rebound to $0.000030?
Yes, but only with renewed demand and reduced profit-taking activity.
5. What percentage of SHIB holders are currently losing money?
~38% of holders (398,000 addresses) hold SHIB at a loss.
6. Is the CMF decline a strong sell signal?
A falling CMF indicates weakening buying pressure but should be combined with other indicators (like MACD) for confirmation.