Shiba Inu Holders Withdraw Billions as SHIB Faces Major Downturn
- Token Withdrawal Surge: On-chain data reveals that nearly 490 billion SHIB tokens have recently exited centralized exchanges, indicating a trend of investors shifting assets into private wallets amid liquidity concerns.
- Market Sentiment Shift: Despite SHIB's price remaining under pressure and failing to break the resistance at the 200-day moving average, holders are opting for self-custody rather than immediate selling, suggesting expectations for a future market rebound.
- Declining Exchange Reserves: The continuous drop in SHIB reserves on exchanges indicates that market participants prefer long-term holding over short-term trading, leading to reduced market liquidity that could hinder price recovery.
- Weak Technical Indicators: The Relative Strength Index for SHIB is nearing oversold territory, with technical indicators showing persistent weakness, prompting analysts to monitor whether large holders are quietly accumulating despite the overall bearish market sentiment.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0396 | 0.0488 | 0.0546 | 0.0637 | 0.0696 | 0.0787 | 0.0845 |
| Fibonacci | 0.0488 | 0.0545 | 0.058 | 0.0637 | 0.0695 | 0.073 | 0.0787 |
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