One of the market's weakest large-cap stocks is still Shiba Inu. SHIB attempted a brief recovery after breaking out of a multi-month rising channel earlier this month, but it was unable to maintain momentum.
Major Japanese crypto exchange Rakuten Wallet continues to demonstrate support for the dog-themed cryptocurrency Shiba Inu. Rakuten Wallet announced the addition of Shiba Inu to its lineup in April, attracting attention in the crypto community.
Shiba Inu is getting close to a crucial on-chain milestone that might have a big impact on the token's future price movement.
Chinese on-chain sources have reminded the market of one unpleasant but now more important than ever factor for the Shiba Inu (SHIB) token and its price: the whale known as "$13,752 purchased 103 trillion SHIB" on Arkham, also referred to as the "top SHIB donor". The trigger was a transfer of nearly 600 billion tokens, equivalent to $2.83 million, to the ForwarderV4 address.
Early rebound stages emerge, but bulls can't get the gist of it: technicians are now calling it a ‘bear trap'.
According to Shibburn's website, just $13 worth of SHIB was burned in the last 24 hours.
Binance's latest Proof of Reserves report reveals a 1.1 trillion SHIB drop, indicating major outflows. Bitcoin and Ethereum balances grew on the exchange.
Shiba Inu has continued its downward trend as the broader crypto market volatility persists. However, its exchange activity is beginning to provide a bullish outlook.
The dynamism inherent in decentralized networks sometimes manages to overcome graphical hazards to reveal the real power of conviction within a community. While the global crypto market is going through a phase of uncertainty related to persistent macroeconomic pressures, the Shiba Inu (SHIB) protocol has just crossed a historic milestone.
Binance proof-of-reserves data reportedly shows SHIB user balances fell by 1.101 trillion tokens over one month.
Shiba Inu is still struggling on the price chart, but on-chain data suggests that investors may be quietly accumulating the asset despite the broader market weakness. One of the most notable developments is the emergence of strongly positive exchange netflows, with more than 50 billion SHIB effectively leaving exchanges over the last 24 hours.
Michael Gayed rejects the SHIB $1 price target, arguing it violates basic global monetary constraints and liquidity math. TXMC analysis highlights that such valuation would require market capitalization beyond global money supply levels, making it structurally implausible.