Shiba Inu has experienced a significant decline in both price momentum and on-chain activity — most notably, a staggering 92% drop in large holder inflows over the past week. Currently trading near $0.00001316, SHIB has once again failed to break past the critical resistance zones marked by the 50-day, 100-day and 200-day EMAs, which hover around $0.00001392, $0.00001417 and $0.00001553, respectively. Technically, SHIB remains in a downtrend. Price action has been locked beneath the 200-day moving average since mid-April, with each attempted breakout being met by selling pressure. The recent rally attempt faded quickly at the EMA cluster, exposing the market’s weakness and lack of follow-through from bulls. But the real red flag lies in the on-chain data. According to IntoTheBlock, large holder inflows, a metric tracking tokens moved into whale wallets, have plummeted by 92.35% in just seven days. The 30-day drop stands at over 56%, clearly suggesting that whales are not accumulating. In fact, outflows have also dropped sharply, signaling that major players are simply sitting on the sidelines or have already exited. This drying up of on-chain participation from influential holders is a major concern for SHIB’s short-term outlook. Without renewed interest from whales, the market lacks the liquidity and conviction to push price action higher. It reflects waning confidence and declining speculative interest, something confirmed by shrinking volume and price stagnation. Unless a dramatic shift in sentiment occurs, either driven by news, broader market bullishness or a technical breakout above the 200 EMA, the path of least resistance remains down. The $0.00001200 support zone is currently the last stronghold before further capitulation becomes possible. The combination of bearish price structure, rejected resistance levels and collapsing on-chain inflows paints a bleak picture for SHIB. Until whale interest returns or bulls reclaim key EMAs, the token may continue drifting lower, stuck in its current lethargy.