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Whale moved 600 billion SHIB, triggering renewed sell-off fears and market uncertainty.
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Long-term holders continue distributing tokens, increasing supply pressure across exchanges.
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Price weakens below key support as momentum indicators show sustained bearish conditions.
A massive Shiba Inu transfer has stirred fresh anxiety across the market. On-chain data now points to a long-dormant whale wallet moving large amounts of SHIB after years of silence. The transaction involved nearly 600 billion tokens sent to a forwarding address linked to selling activity. Traders quickly reacted as fear returned to the meme coin sector. Many now question whether deeper downside pressure could follow soon across the SHIB market.
Shiba Inu exchange reserves surpassed 80 trillion tokens amid heavy inflows, sparking supply risk concerns as $SHIB struggles below major moving averages, currently trading near the $0.0000045 mark.https://t.co/HUQzVkMSUc
— 36crypto (@36Crypto2) June 23, 2026
Dormant Whale Activity Returns to the Market
The wallet in focus once bought over 103 trillion SHIB during early accumulation phases. That purchase cost only $13,752 back in 2020. At the 2021 peak, holdings briefly reached a staggering $9.1 billion valuation. Recent data shows renewed movement after years of inactivity. The whale transferred nearly 600 billion tokens worth about $2.83 million. Market trackers linked the transfer to ForwarderV4, a known routing address for liquidity movement.
This shift triggered concerns about ongoing distribution across exchanges. Over the past month, around 3.8 trillion SHIB already flowed through similar channels. That activity generated more than $20 million in realized value. Selling pressure increased as order books absorbed consistent token inflows. Analysts from on-chain monitoring groups flagged a clear pattern. The wallet continues releasing tokens accumulated at very low cost.
Even after recent sales, the address still holds over 96 trillion SHIB. That remaining stack equals roughly $457 million in value. Such a large overhang keeps traders cautious about future price stability. Price action reflects this pressure with visible weakness on charts. SHIB recently broke below a long consolidation range. The move pushed price into multi-year lows on the weekly timeframe. Buyers failed to defend key liquidity zones during the decline. This left limited support beneath current trading levels.
Market Structure Weakens as Selling Pressure Builds
Technical signals now reinforce the bearish outlook forming across SHIB charts. Prices dropped below major liquidity clusters that once supported recovery attempts. Market makers appear less active in defending current zones. This shift reduced confidence among short-term traders watching order flow behavior.
Momentum indicators also confirm weakening demand conditions. The relative strength index remains below the neutral 50 level. Downward slope continues without signs of reversal pressure. This pattern suggests fading buying interest across broader market participants. Sellers continue to dominate trading sessions with consistent control.
Fresh inflows from whale wallets add another layer of concern. Each new transfer toward forwarding addresses raises speculation about further liquidation. Traders now watch wallet behavior closely for early warning signals. Market sentiment stays fragile under persistent distribution risk. SHIB now trades in a sensitive zone where reaction to large flows matters more than usual.
