SHIB Whale Sells 600 Billion Tokens, Retains 96.2 Trillion
- Whale Transaction Dynamics: An early SHIB whale sold 600 billion tokens worth approximately $2.8 million but still retains 96.2 trillion SHIB, indicating that the whale is not fully exiting the market but rather engaging in gradual profit-taking.
- Increasing Market Pressure: SHIB has fallen over 18% in the past month and year-to-date losses exceed 32%, with current prices nearly 95% below previous all-time highs, reflecting weak market sentiment and increasing selling pressure.
- Community Frustration: Decentralized exchange WoofSwap openly criticized the ecosystem leadership, stating that investors have lost confidence due to limited development progress, and called for meaningful changes to restore market confidence.
- Developer Absence Raises Concerns: Lead developer Kusama has been inactive on social media for over five weeks, leading investors to speculate about the project's future and shifting attention towards other AI projects, raising questions about SHIB's ecosystem leadership.
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Technical Analysis for KSM
Technical Sentiment Analysis for Kusama (KSM). As of , Kusama (KSM) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for KSM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, KSM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Kusama (KSM) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 2.434 | 2.667 | 2.894 | 3.127 | 3.354 | 3.587 | 3.814 |
| Fibonacci | 2.667 | 2.843 | 2.951 | 3.127 | 3.303 | 3.411 | 3.587 |
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