The cryptocurrency market is renowned for its volatility, and Shiba Inu (SHIB) recently experienced a sharp 13% price drop, falling to lows of $0.000027. This decline mirrors broader market trends, with Bitcoin briefly dipping to $65,565 before recovering to $67,700.
Market Performance Overview
- 24-hour change: -13.77% ($0.00002908)
- 7-day change: -14.43%
- Recent peak: $0.00004575 on March 5 (300% breakout)
Key Factors Behind SHIB's Drop
1. Whale Activity Decline
On-chain data reveals a 5.43% drop in large transactions ("whale activity") over 24 hours, with a sustained decline since March 5. Reduced whale participation often signals weakened institutional interest or profit-taking, contributing to price instability.
2. Speculative Trading Patterns
IntoTheBlock’s data highlights speculative behavior:
- Holding time: Fell sharply to 4 weeks (March 13) vs. 2 months (March 14).
- Transaction volume: 2.12 trillion SHIB traded, indicating short-term bets.
👉 Explore real-time SHIB market trends
3. Retail Investor Sentiment
Coins purchased during bull runs (often by retail traders) showed shorter holding periods. This pattern aligns with SHIB's volatility, as hype-driven trading amplifies price swings.
Current Price Range
SHIB now fluctuates between $0.000027** (support) and **$0.000039 (resistance), reflecting post-breakout consolidation.
FAQs
❓ Why did SHIB drop 13%?
The dip reflects reduced whale activity, speculative trading, and broader market corrections.
❓ How does holding time affect SHIB’s price?
Shorter holding periods (e.g., 4 weeks) suggest speculative trading, increasing volatility.
❓ What’s SHIB’s support level?
Current support sits at $0.000027**, with resistance at **$0.000039.
👉 Track SHIB’s latest on-chain metrics
Key Takeaways
- Whale transactions and retail speculation drove SHIB’s decline.
- Monitor holding time and large transaction trends for future price cues.
- Market corrections are common after parabolic rallies (e.g., March 5’s 300% surge).