Shiba Inu Hits 15-Day High, Triggering Selloff From Long-Term Investors

The popular Shiba Inu Meme token surged to a 15-day high yesterday, sparking fresh activity from long-term traders (LTHs).

On chain data shows a key metric tracking the movement of this group of investors has spiked to a three-month high, suggesting that seasoned investors are likely moving coins to capitalize on the recent price surge.

SHIB long term investor Token Migration

SHIB ’s brief surge to a 15-day high in Tuesday’s trading session prompted long-term investors to move their previously dormant Token . This was reflected in an increase in the Token age index, which measures the movement of long-held coins.

The index hit a three-month high of $2,715.48 trillion yesterday, according to Santiment.

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This indicator is important because long-term investors rarely move their coins. When they do, especially when the asset price is rising, this suggests a change in market trend.

A significant increase in the consumer age index like this during a bull run suggests that long-term investors are selling, which could increase selling pressure in the market.

Additionally, SHIB shows a consistently negative daily active address (DAA) price-to-value divergence, suggesting that network activity is lagging behind the Token’s recent price surge.

At the time of writing, this on chain metric, which tracks whether the respective network activity supports an asset's price movement, is at -62.63, highlighting weak support from actual user participation.

For SHIB, this means that the recent price rally may be fragile. With network activity not matching the price momentum, the Token could face a short-term correction as selling pressure from long-term investors increases.

SHIB price struggles: Support still holds, but bears are waiting

At the time of writing, SHIB is trading at $0.00001294, holding above the support level formed at $0.00001187. If long-term investors continue to sell, this support level could weaken, leading to a deeper decline towards $0.00001004.

However, if demand increases and SHIB 's bullish momentum strengthens, it could rise to trade at $0.00001408.