🐕 SHIB’s Wild Ride: $70M Vanishes, But October’s Coming! 🎢

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TL;DR

  • SHIB, that mischievous pup of the crypto world, tumbled by double digits as the market decided to play a game of musical chairs. Meanwhile, a whale—or perhaps a cunning sorcerer—moved 5 trillion tokens from Coinbase to an unknown wallet. 🧙♂️💼
  • The key support at $0.00001328 holds firm, but traders are eyeing $0.00001200 like it’s the last pie at a Moscow bakery. 🥧
  • SOPR whispers that holders are exiting near breakeven, not panic-selling—a calm before the storm, or perhaps just a yawn. 😴
  • October, that fickle mistress, has brought SHIB an average 213% gain since 2021. Will she smile upon us again? Only the cats of Moscow know. 🐈

SHIB’s Plunge: A Tale of Whales and Woes

Ah, Shiba Inu, the coin that barks louder than it bites, fell 13% in the last 24 hours, trading at $0.00001312. Daily volume hit $522 million—enough to buy a small dacha in the countryside, if only one could spend it on such trivialities. The drop followed the mysterious transfer of 5 trillion SHIB (worth about $70 million) from Coinbase Institutional to an unknown wallet, as reported by the ever-watchful Whale Alert. 🐳✉️

5,000,000,000,000 #SHIB (69,980,000 USD) transferred from Coinbase Institutional to unknown wallet

— Whale Alert (@whale_alert) July 23, 2025

Meanwhile, the broader crypto market decided to take a nap, and SHIB’s decline, while sharp, was less dramatic than Dogecoin’s. The OG meme coin had been strutting like a peacock earlier in July, showing a monthly gain of 25% before this correction. 🦚

Key Levels: A Tightrope Walk

SHIB now teeters just above the $0.00001328 support zone, like a tightrope walker with a fear of heights. Traders watch this level with the intensity of a cat staring at a cucumber. 🥒 If it fails, the next stop is $0.00001200. Resistance, those stubborn gatekeepers, remains at $0.00001417 and $0.00001558.

Analyst SHIB KNIGHT, a modern-day Cassandra, noted that the price was rejected at $0.00001558 and promptly fell back. To shift the short-term trend, SHIB would need to reclaim and close above that resistance level. Until then, movement is likely to stay as limited as a bureaucrat’s imagination. 🧑💼

SOPR: A Market of Shrugs and Sighs

The Spent Output Profit Ratio (SOPR) on July 22 was 1.0031—a number as unexciting as a Tuesday evening in a Moscow apartment. It suggests that most addresses transferred SHIB at a profit break or marginal profit, a collective shrug in the face of uncertainty. 🤷♂️

Earlier in the year, SOPR stayed below 1.0 for weeks, a somber march of loss-taking. The recent upward thrust above breakeven levels hints that selling pressure is easing, like a storm cloud parting to reveal a sliver of sky. 🌦️ The data, however, remains as cryptic as a Bulgakov novel.

SHIB, that eternal optimist, has posted positive October returns every year since 2021. Data from CryptoRank shows an average gain of over 213% during that month. With the current pullback in play, some traders are looking ahead to that seasonal trend like a child awaiting New Year’s gifts. 🎁 Will October bring joy, or will it be another chapter in the absurdity of the crypto saga? Only time—and perhaps a mischievous cat—will tell. 🐈

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2025-07-24 13:09