In a stark reversal of fortunes, Shiba Inu whales have abruptly withdrawn their support for the network, leaving the cryptocurrency to face a bleak future. The price of Shiba Inu has been on a downward spiral, failing to regain ground above the crucial support level of $0.000025. This sudden exodus of whales has dealt a devastating blow to the market, signaling a lack of confidence in the asset's potential for growth.

The writing was on the wall when Shiba Inu succumbed to intense selling pressure, plummeting below key support areas. The price dipped to a dismal $0.0000239, unable to sustain a position above the $0.000025 level. This decline was accompanied by a precipitous drop in large transactions, a telltale sign of whales abandoning ship. According to ITB data, the number of large transactions dwindled from a seven-day high of 341 to a mere 82 over the past 24 hours, indicating a significant decrease in activity by big holders.

The volume of large transactions also took a hit, shrinking from a seven-day peak of 5.7 trillion SHIB to a paltry 3.36 trillion SHIB over the same period. While this may offer some respite, it still points to bearish pressure weighing heavily on the market. To make matters worse, only 61% of holders remain in the black at current price levels, with 35% out of the money. The concentration of large holders remains high at 73%, but the dwindling transaction volume tells a tale of waning interest.

As if these ominous signs weren't enough, a potential bearish cross of the 50-day and 100-day EMAs looms on the horizon, threatening to unleash a fresh wave of selling pressure. Should this occur, SHIB could plummet to new lows around $0.000022, with a possible worst-case scenario of $0.000018. The once-loyal whales have spoken, and their silence is deafening.

In the midst of this turmoil, it's worth noting that Shiba Inu's price performance has been far from bullish or even positive, failing to regain ground above the local support level. The asset is clearly losing touch with the market, and the exodus of whales serves as a stark reminder that the market is not yet ready for a growth phase. As the situation continues to unfold, one thing is certain – the future of Shiba Inu hangs in the balance, and only time will tell if it can recover from this devastating blow.