Shiba Inu (SHIB) plummet, but the big whales signaled unexpectedly.

In the past 24 hours, the price of Shiba Inu (SHIB) has fallen slightly by nearly 3%, in line with the downward trend of the entire memecoin market. However, looking at the overall picture, the situation is less optimistic.

SHIB has lost more than 17% of its value in the last 30 days, and a series of negative signals are gradually emerging. Nevertheless, there is still a silver lining that could change the situation.

The number of active addresses is nearing its lowest point for the month

The first warning sign comes from the network itself. According to data from CryptoQuant, the number of daily active addresses of SHIB has been steadily decreasing and is now close to hitting its monthly low, at 3,148, just slightly above the monthly bottom of 3,130.

The price of SHIB and the number of active addresses | Source: CryptoquantThis is a notable signal because in the past, whenever the number of active addresses surged, the price of SHIB often jumped up immediately afterward. From August 6 to August 8, the number of active addresses skyrocketed and the price of SHIB reacted almost immediately.

On the contrary, the current decline indicates a negative sentiment, further reinforced by the Bull-Bear Power indicator (BBP) — which is leaning towards selling, signaling that the bears are gradually gaining the upper hand.

The Shiba Inu bear group is taking the initiative | Source: TradingViewThe Bull-Bear Power indicator (BBP) measures the difference between the daily high/low and the moving average to assess whether the bulls or bears are currently controlling price movements.

Whales silently accumulate stock

Although the signals from the network and the price are deteriorating, there is still a positive factor. The Chaikin Money Flow (CMF) indicator remains above the 0 mark, indicating that the net cash flow into SHIB is still positive. This often reflects that large investors are quietly buying in while the majority are selling off.

Technically, CMF creating higher lows means that the inflow of funds into this asset is increasing.

The flow of money into SHIB continues to increase despite bearish signals | Source: TradingViewUpon closer observation, data from Nansen shows that the top 100 wallets have accumulated nearly 21 trillion SHIB in just the past 90 days. This could be the reason why CMF continues to trend upward, despite the overall negative trend.

100 the top 100 addresses continue to accumulate | Source: Nansen Therefore, while Smart Money and whales have reduced their positions, the top 100 addresses continue to increase their holdings.

CMF indicates buying or selling pressure by combining price and trading volume; values above 0 indicate accumulation, while values below 0 indicate distribution behavior.

Technical Warning: EMA Indicates Stronger Correction

On the daily timeframe, technical indicators show a dangerous signal. The 20-day EMA (red) has crossed below the 50-day EMA (orange) – forming a "death cross" that often leads to deep corrections.

Technical analysis of SHIB | Source: TradingViewAt the same time, the price has broken through the support level of $0.00001259 and is currently trading around $0.00001220. If selling pressure continues, the next support level will be $0.00001215.

If this threshold is broken, $0.00001160 will become a potential target, marking the possibility of a deeper correction within 30 days.

This bearish scenario only becomes invalid if SHIB breaks back above $0.00001320. At that point, the EMA could reverse and restore short-term upward momentum. But until then, the downside risk remains dominant.

Vincent