- Shiba Inu, like a neglected suitor, slipped unceremoniously beneath the mid-range—no invitation to buy presented itself. Alas!
- High on-chain activity—surely a fête of accumulation—or perhaps just everyone making a dramatic exit? 🎭
Indeed, the Shiba Inu (SHIB) did find itself confined to a rather tedious range, spanning two months, stubborn as an old maid refusing proposals. Recent exertions in the market have not been kind, with the bears—not unlike Lady Catherine de Bourgh after a sour tea—making their ascendancy most disagreeably felt.
One cannot disregard the melancholy report regarding the whales: their enthusiasm to disburse holdings gives the spectacle a tragic flavour, rather like a grand ball ending in rain and ruined slippers.
Upon falling below the gracious (but evidently untrustworthy) support of $0.0000129, our beloved memecoin found itself tripping all the way to the lower echelons of the range—hardly aspiring to new heights. Bulls, it seems, continue sipping their tea, offering very little strength or suitable plot twists.
Propriety, Persuasion, and Peculiar Holders’ Behaviour
Though the gossip-mongers insist that whales are unloading Shiba Inu recklessly, the exchange’s net position has been, to use a Regency phrase, negatively disposed since January. This indicates that tokens are sashaying off the exchanges—either they are seeking quiet country retirement (accumulation), or merely running from the latest social scandal.
December’s grand exodus of coins to exchanges climaxed with a rally worthy of a Bath assembly—but do not expect such gaiety every season.
Funding rates, according to the learned observers at Santiment, have plunged into negative territory, the bears having clearly RSVP’d en masse. Open Interest has dropped since 26 April, removing all the bullish gentlemen from the party (presumably gone home to read a book).
A little surge in active addresses did grace early May, but like Mr. Collins’ interest, it faded with astonishing vigour. If high activity persists, it may indicate courtship; if fleeting, perhaps only hasty goodbyes. Exchange outflows, paired with on-chain activity, could mean accumulation—or simply an orchestrated attempt to liven up conversation at the pump-and-dump ball.
The mean coin age, regrettably, has not made any particularly northward journey—much like Mr. Wickham after his debts come due. January to March saw a virtuous climb; now, it dawdles about, not wishing to commit.
Dormant circulation, meanwhile, charts its own series of minor hills—each a reminder of brief, tempestuous movement, almost like Lydia Bennet’s vows of discretion. The 30-day MVRV now lingers in the negative domain—possibly signalling that short-term holders have finished their melodramatic exits. One hopes the stage is now cleared for some peace, some accumulation, and perhaps, a little less scandal. 🐕🎩
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2025-05-06 09:18