Shiba Inu Hits 15-Day High, Triggers Sell-Off From Long-Term Holders
Popular meme coin Shiba Inu surged to a 15-day high yesterday, sparking renewed exercise amongst long-term holders (LTHs).
On-chain information exhibits {that a} key metric monitoring the motion of this investor cohort spiked to a three-month high, signaling that seasoned buyers are doubtless transferring cash to money in on the latest rally.
SHIB Long-Term Holders Move Dormant Tokens
SHIB’s transient rally to a 15-day high throughout Tuesday’s buying and selling session prompted its long-term holders to maneuver their beforehand dormant tokens round. This is mirrored within the surge within the token’s age-consumed metric, which measures the motion of long-held cash.
According to Santiment, this reached a three-month high of 2715.48 trillion yesterday.
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This metric is important as a result of long-term holders hardly ever transfer their cash. When they do, particularly when an asset’s value grows, it hints at a shift in market tendencies.
Significant spikes in age-consumed like this throughout a rally recommend that long-term holders are offloading, which might increase market selling pressure.
In addition, SHIB exhibits a persistently adverse Price–Daily Active Addresses (DAA) divergence, signaling that community exercise is lagging behind the token’s latest value rise.
At press time, this on-chain metric, which tracks whether or not a corresponding community exercise helps an asset’s value motion, stands at -62.63, highlighting weak assist from precise person engagement.
For SHIB, this implies the latest rally could also be fragile. With community exercise not matching value momentum, the token might face short-term pullbacks as promoting strain from long-term holders will increase.
SHIB Price Standoff: Support Holds, But Bears Are Waiting
At press time, SHIB trades at $0.00001294, holding above assist fashioned at $0.00001187. If long-term holder selloffs proceed, this assist flooring might weaken, resulting in a deeper decline towards $0.00001004.
However, if demand grows and SHIB’s upward momentum strengthens, it could rally to change arms at $0.00001408.
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