Whale Distribution Weighs on Shiba Inu as Support Holds
Shiba Inu (SHIB)
Editor:
Eugene Serbin
cvj.ai reports that Shiba Inu is holding critical support near its 50-day exponential moving average despite selling pressure from large holders. The token traded near $0.00000516 on Wednesday after a 4% rebound, but wallets holding between 1 million and 100 million SHIB collectively sold 40 billion tokens since August 22. This distribution by larger holders contrasts with smaller whales, who accumulated only 990 million tokens in the same period, creating a supply-demand imbalance.
Derivatives data from CoinGlass showed a long-to-short ratio of 0.93, indicating that short positions outnumbered longs and signaling cautious sentiment. CryptoQuant noted heightened activity in spot and futures markets, with large whale orders appearing after the price increase. Technically, the 50-day EMA at $0.00000489 serves as the key near-term support level for the asset.
A break above the 200-day EMA at $0.00000569 could strengthen the bullish case, while a close below the 50-day EMA might expose the token to deeper correction. Momentum indicators show mixed signals, with the RSI at 54 rising gradually while the MACD produced a bearish crossover with expanding red histogram bars. The market remains undecided, balancing technical support against bearish on-chain and derivatives signals.
How the market reacted
Whalio's own Binance spot order flow for SHIB, measured when this story was written up on 2 September 2026. Not the outlet's figures.
Whalio data shows SHIB trading at $0.000005140 with a 1-hour buy ratio of 33.2% and a 4-hour buy ratio of 43.4%, both trailing the 24-hour buy ratio of 45.7%. This divergence suggests that buying pressure is fading in the shorter timeframes compared to the full day. The 24-hour volume delta is -$298,073, indicating that sell volume exceeded buy volume over the last day. The cumulative volume delta (CVD) closed at -$300,919, confirming that net selling pressure has dominated recent trading activity. Only 9 out of 24 hours saw net buying, highlighting a day where sellers generally controlled the flow.
The latest daily buy ratio of 45.6% sits at the 11th percentile of the last 322 days, against a median of 48.8% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SHIB, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.1%, making today’s 24-hour ratio of 45.7% a decline of 4.4 percentage points. Weekly volume was 0.81 times the average, indicating that trading activity was lighter than usual. The 8-day volume delta totaled -$369,906, with net buying occurring on only 3 of the 7 days. This places the current day in line with a broader trend of subdued buying and negative delta. The coin is experiencing an unusual day of reduced volume and lower buy ratios compared to its weekly baseline.