BtcTurk halts withdrawals after $48M crypto hack sparks panic!
- Whale transactions ranging from $1 million to $10 million have dropped by 50%.
- 59.17% of top traders are currently short on SHIB.
Amid market uncertainty, Shiba Inu [SHIB] appears bearish and is poised to continue its downward momentum. This negative outlook is likely driven by bearish price action and weak interest from traders and investors.
At the time of writing, traders leaned heavily bearish, as per Coinglass data.
SHIB’s Long/Short Ratio sat at 0.69—well below 1, implying more shorts than longs. In fact, 59.17% of top traders held shorts, while only 40.83% were long.
Source: Coinglass
On top of that, whale activity dwindled. IntoTheBlock showed a 50% drop in $1M–$10M SHIB transactions over the past three months.
Naturally, this sharp falloff from institutional players added to the selling pressure.
Source: IntoTheBlock
Meanwhile, exchanges have witnessed an inflow of $1.70 million worth of SHIB coins in the past 24 hours, indicating a potential dump and suggesting increased selling pressure soon.
Source: Coinglass
Despite the inflows, SHIB ticked up by 2.30% in 24 hours, trading near $0.00000119. Notably, trading volume also rose by 15%, signaling increased market participation.
Shiba Inu’s price action and upcoming level
According to AMBCrypto’s technical analysis, SHIB has been moving within a descending channel pattern since early 2025.
At press time, the memecoin was at a critical resistance level, marking the upper boundary of this channel.
The daily chart suggests that this level could be pivotal in determining SHIB’s next price movement. If it breaks above resistance, it may signal a trend reversal.
Otherwise, it could face further downside
Source: TradingView
If SHIB’s price continues to rise and breaks out of the descending channel, it could surge 20%, reaching $0.00000152 in the coming days.
Conversely, if bullish momentum weakens due to bearish on-chain metrics, history may repeat itself. In that case, SHIB could drop 14%, falling to $0.00000109.
The next move depends on whether buyers can sustain momentum or if selling pressure takes over.
Experts’ view on SHIB
Despite ongoing market uncertainty and bearish price action, experts still have a bullish view on SHIB.
Recently, Finder published a report in which industry giants, including the CEO of Bitget and other experts, shared their views and predictions on SHIB.
According to the report, Bitget CEO Gracy Chen was particularly bullish on SHIB, stating that the token could reach the $0.0000600 level by the end of 2025.
