Whale Selling Threatens Shiba Inu's Recent Rebound

Shiba Inu (SHIB) has managed to hold its ground above a key support level, but the recent rebound is being threatened by whale selling and bearish positioning in the derivatives market.

Whale wallets with between 1 million and 100 million SHIB tokens have sold a combined 40 billion tokens since August 22. This significant selling pressure may indicate that larger holders are taking profits rather than positioning for an immediate price increase.

On the other hand, smaller whales have accumulated approximately 990 million tokens over the same period, but this amount is still significantly lower than the 40 billion sold by larger holders.

The derivatives market also shows caution, with a long-to-short ratio of 0.93 indicating that more traders expect SHIB's price to fall.