Shiba Inu Hits 15-Day High, Triggers Sell-Off From Long-Term Holders
Shiba Inu surged to a 15-day high, but long-term holder sell-offs and weak network activity hint at fragile momentum and possible retracements.
Popular meme coin Shiba Inu surged to a 15-day high yesterday, sparking renewed activity among long-term holders (LTHs).
On-chain data shows that a key metric tracking the movement of this investor cohort spiked to a three-month high, signaling that seasoned investors are likely moving coins to cash in on the recent rally.
SHIB Long-Term Holders Move Dormant Tokens
SHIB’s brief rally to a 15-day high during Tuesday’s trading session prompted its long-term holders to move their previously dormant tokens around. This is reflected in the surge in the token’s age-consumed metric, which measures the movement of long-held coins.
According to Santiment, this reached a three-month high of 2715.48 trillion yesterday.
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SHIB Age Consumed. Source:
Santiment
This metric is significant because long-term holders rarely move their coins. When they do, especially when an asset’s price grows, it hints at a shift in market trends.
Significant spikes in age-consumed like this during a rally suggest that long-term holders are offloading, which could increase market selling pressure.
In addition, SHIB shows a persistently negative Price–Daily Active Addresses (DAA) divergence, signaling that network activity is lagging behind the token’s recent price rise.
At press time, this on-chain metric, which tracks whether a corresponding network activity supports an asset’s price movement, stands at -62.63, highlighting weak support from actual user engagement.
SHIB Price DAA Divergence. Source:
Santiment
For SHIB, this means the recent rally may be fragile. With network activity not matching price momentum, the token could face short-term pullbacks as selling pressure from long-term holders increases.
SHIB Price Standoff: Support Holds, But Bears Are Waiting
At press time, SHIB trades at $0.00001294, holding above support formed at $0.00001187. If long-term holder selloffs continue, this support floor could weaken, leading to a deeper decline toward $0.00001004.
SHIB Price Analysis. Source:
TradingView
However, if demand grows and SHIB’s upward momentum strengthens, it could rally to exchange hands at $0.00001408.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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