Shina Inu Rises 2.833% Amid Heavy Selling by Long-Term Investors

Shina Inu's latest price was $0.06, up 2.833% in the last 24 hours. The cryptocurrency has seen a significant increase in the age consumed metric, which tracks when long-held tokens are spent. This indicator reached a three-month high, indicating heavy selling by long-term investors (LTHs). Such activity typically signals profit-taking after rallies. Because LTHs hold a significant supply of Shina Inu, their actions often shape the price direction. Large sell-offs tend to weaken investor confidence and drag the market lower. With Shina Inu facing this pressure, the risk of retracement has increased despite the recent upward move.

The exchange net position change metric further supports the bearish outlook. Green bars on the indicator highlight rising inflows, suggesting investors are transferring tokens to exchanges to sell. This trend reflects a decline in optimism among Shina Inu holders. In just five days, over 906 billion SHIB have been sold into exchanges. This sustained selling pressure reveals growing caution in the market. While Shina Inu achieved a short-term rally, investor sentiment does not currently back a prolonged recovery.

Shina Inu has been attempting to establish a support level, holding near its recent peak. However, maintaining this momentum appears difficult without strong investor conviction. If selling continues, Shina Inu could drop toward lower levels, erasing recent gains. On the flip side, if the Shina Inu price successfully defends the support level, a rebound may follow. In that case, Shina Inu could push toward higher levels, which would invalidate the bearish outlook and signal renewed strength.

The Shina Inu ecosystem is currently navigating significant technical and development milestones. Market observers note increased trading activity as the asset attempts to establish a position above the key 200-day simple moving average, suggesting a potential shift in market dynamics. Technical indicators, previously signaling caution, are showing signs of improvement amidst a renewed interest in the broader meme coin sector.

A major development focus is the imminent migration to LEASH Version 2, confirmed by Shina Inu developers to be launching within days. This upgrade follows the identification of a flaw in the initial LEASH V1 structure. The development team aims to rebuild community confidence by introducing a simpler, more auditable token structure through this migration.

Activity among Shina Inu holders is also drawing attention. While the asset shows signs of recovery from recent technical lows, there is observable selling pressure emerging as it approaches significant price thresholds. Long-term holders are reportedly engaging in sales near recent price peaks, creating market volatility around these levels despite the overall recovery momentum.

The context of Shina Inu's position within the meme coin landscape is evolving. Renewed interest in dog-themed cryptocurrencies, partly fueled by institutional validation and corporate acquisitions within the sector, is impacting the market. However, Shina Inu's price performance has recently stagnated within a defined range, lacking a significant breakout despite periods of increased volume and comparative stagnation relative to other altcoins capturing market growth expectations. Its progress is often benchmarked against the broader market sentiment driving similar assets.