Shiba Inu Faces Uncertainty as Long-Term Holders Shift Amid Price Pullback

Shiba Inu (SHIB) has made quite a splash recently. In just a week, its price jumped by a stunning 65%. This surge caught the eye of both retail and institutional investors. But after this rally, SHIB faced a sharp pullback, landing at a crucial support level of $0.00002411.

This price action has raised some eyebrows, especially regarding the long-term holders (LTHs). Their behavior suggests that SHIB's path to recovery might not be as smooth as many had hoped.

In the last 24 hours, Shiba Inu’s “age consumed” metric—a key indicator of how long coins have been held—hit its highest level since March. This spike indicates a significant shift of LTH-held SHIB tokens, the largest in eight months. Typically, LTHs help stabilize the market, but their recent activity shows they’re moving their tokens more than usual.

This uptick among long-term holders points to uncertainty. Many investors might be rethinking their HODLing strategies. Such moves are often seen as bearish, hinting that LTHs may not be as confident about SHIB’s short-term outlook.

Moreover, active deposits—tracking the number of unique addresses transferring SHIB to exchanges—have dropped noticeably. After a surge earlier this week, the number of active deposits has declined. This suggests that fewer investors are looking to sell their holdings right now.

This trend could mean investors are pulling back, perhaps waiting for better market conditions or clearer trends. The decrease in active deposits might indicate less immediate selling pressure, which could be a good sign for SHIB in the long run.

Currently, Shiba Inu’s price sits at $0.00002411, down 13% in the last 24 hours. While this correction isn’t drastic, it has erased a good chunk of the recent gains from that impressive 65% rally. Investors are understandably cautious.

Despite this pullback, SHIB seems to be stabilizing around a key support level of $0.00002267, which has held firm for several days. If this support continues to hold, SHIB might start trending upward again, with the next resistance target at $0.00002976.

However, if SHIB can’t maintain this support and falls below $0.00002267, it could face more downward pressure. A drop below this level might open the door for a potential decline to $0.00002093 or even lower. This would invalidate the current bullish outlook and suggest that SHIB could enter a longer phase of consolidation or bearish activity, especially if LTH selling pressure continues.