Shiba Inu’s Dramatic Downfall: Long-Term Holders Flee Like It’s a Bad Date! 😂

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Ah, the Shiba Inu (SHIB), that whimsical creature of the crypto world, has found itself in a rather unfortunate predicament, languishing in a downtrend that has stubbornly clung to it for three long months.

Despite its valiant attempts to rise from the ashes, SHIB’s price seems to have taken a liking to the ground, indicating that perhaps it is not quite ready for a comeback. As the market dances chaotically, our dear Shiba Inu faces yet more trials in its quest for recovery.

Shiba Inu Sees LTHs Panicking

Investor sentiment, dear reader, has taken a turn for the worse, much like a poorly brewed cup of tea. The Age Consumed metric, which tracks the movement of coins held for ages, is rising like a soufflé in an oven. When prices fall, a spike in this metric often means long-term holders (LTHs) are selling off their precious coins to cushion their losses.

In the case of our furry friend, the increasing movement of HODLed coins suggests that investors are not exactly brimming with confidence regarding a short-term price recovery. The market’s outlook is as cautious as a cat near a dog park, with LTHs likely adding to the selling pressure. The current shift in sentiment reflects a growing uncertainty among Shiba Inu holders, who are probably clutching their pearls.

The macro momentum of Shiba Inu is also showing signs of weakness, much like a tired old man trying to keep up with the youth. The MVRV Long/Short Difference indicator, which measures the profit levels of short-term holders (STHs) versus long-term holders, suggests that STHs are currently the ones laughing all the way to the bank.

As STHs remain in control, the market may continue to experience volatility, with investors hesitating to buy into the token without a clear sign of sustained price growth. With short-term holders more likely to liquidate their assets faster than you can say “bear market,” Shiba Inu faces increased risks of further price declines.

SHIB Price Breakout Could Be Reversed

Currently, Shiba Inu’s price hovers at $0.00001276, just above the support level of $0.00001275, like a tightrope walker on a windy day. After a brief breakout in the last 48 hours, SHIB has failed to maintain its upward momentum and is now facing resistance. The market sentiment suggests that further price drops could be lurking around the corner, ready to pounce like a cat on a laser pointer.

If this downtrend persists, SHIB could dip below $0.00001141, extending the current bear market. This would confirm the continuation of negative price action and delay any potential recovery, leaving investors to prepare for more uncertainty in the short term, much like waiting for a bus that never arrives.

However, should Shiba Inu manage to rebound from the support level of $0.00001275, it could potentially rise toward $0.00001462, clearing a significant resistance barrier. A break above this level would invalidate the bearish outlook and signal the start of a more substantial recovery for SHIB, allowing it to regain some of its lost value, much to the delight of its long-suffering holders.

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2025-03-21 21:42