Very bad news for Shiba Inu (SHIB)? These 4 signals represent price issues

The broader category of meme coins has declined over the past seven days, posting a nearly 8% drop across all coins tracked (on CoinGecko).

And while DOGE and SHIB aren’t among the worst performers, they’re still down more than 7% from the week.

The last 30 days have been quite difficult for SHIB, especially since the meme coin has dropped almost 22% and the chart looks worrying.

Source: CoinGecko

As you can see from the chart, volume is also declining, but this is far from the most worrying sign for SHIB bulls.

Shiba Inu (SHIB): 4 worrying signs

IntoTheBlock has added multiple chain and exchange signals for Shiba Inu (SHIB) that could affect the price.

The bottom line is that current sentiment is “mostly bearish,” with just one in six bullish signals.

Source: IntoTheBlock

More specifically, these signals include net net growth, which is down 0.19. This is a momentum signal “that gives a pulse of the true growth of the token’s underlying network.”

“In the Money” headlines are also down 1% in the last day. With this in mind, most SHIB investors are losing money on their purchases as only 45% of them are in the green.

The concentration metric remained unchanged, which is interpreted as a bearish sign. This is an indicator of whether large investors accumulate or distribute SHIB tokens or not.

Last but not least, the number of large transactions, which is an indicator of whale activity and interest, is down 11% in the last day.

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