Shiba Inu Corrects 20% From Weekend High Amid Whale Profit-Taking

Shiba Inu (SHIB) experienced a sharp correction after its weekend rally unwound. Over the past 24 hours, the token dropped around 8.2% due to a combination of factors.

The rapid 35-40% rally that took place over the weekend was driven by renewed whale accumulation and a spike in burn activity, which attracted traders back to the meme coin narrative.

However, after touching the 100-day EMA near 0.0000050-0.0000051, SHIB failed to break higher, sellers stepped in, and price slid back toward 0.0000046, roughly 20% below the high.

Data shows that large holders used the rally to take profits and shift tokens onto exchanges, adding direct sell pressure. Around 835 billion SHIB moved across exchanges in 24 hours, with exchange reserves climbing to about 86.8 trillion SHIB.

The broader market context is also bearish, with total crypto market cap down about 2.0% over the last 24 hours and Bitcoin (BTC) itself down around 2.1%. SHIB's price reverted more sharply, giving back a significant slice of those short-term gains.