• Whale selling and market fear push the Shiba Inu price lower.
• SHIB card launches with zero fees and free rewards for early users.
• Technical weakness keeps SHIB below key moving averages and support.

Shiba Inu price is facing renewed pressure despite the launch of an innovative SHIB-branded payment card and a major token giveaway.

While the launch of the SHIB card and accompanying SHIB rewards is a high-profile attempt to stimulate activity, the memecoin’s technical and market fundamentals suggest ongoing headwinds.

Shiba Inu launches SHIB payment card and rewards

Shiba Inu has partnered with digital asset exchange Bitget to introduce a custom SHIB-themed payment card, marking a step toward mainstream crypto adoption.

The SHIB card allows users to spend up to $400 per month in crypto with zero fees, including no conversion costs, foreign exchange fees, or hidden spreads.

Opening the Bitget Wallet Card is completely free, lowering the barrier for new users eager to integrate SHIB into daily transactions.

To celebrate the launch, the Shiba Inu ecosystem also rolled out a generous rewards program.

The first 100 users to claim the SHIB × Bitget Wallet Card will share a pool of 114,678,899 SHIB, while all subsequent participants receive $5 in SHIB.

The promotion runs from November 19 to November 26, with all rewards set to be distributed on November 28.

According to the official Shiba Inu X account, this campaign is designed to show the world how the ShibArmy can spend crypto, combining utility with community incentives.

SHIB × Bitget Wallet Card is LIVE!

WOOF! We’re dropping an exclusive SHIB card face + SHIB rewards for the #SHIBARMY

Rewards:

First 100 users who claim the SHIB × Bitget Wallet Card get their share of 114678899 in $SHIB

Everyone after gets $5 in $SHIB

100% FREE to… pic.twitter.com/T3M8FmC35a

— Shib (@Shibtoken) November 19, 2025

Market headwinds weigh on Shiba Inu price

Despite these positive developments, the Shiba Inu price has dipped 3.83% in the past 24 hours, underperforming the broader crypto market, which fell 3.2%.

The decline extends the token’s seven-day loss of 12.32%, reflecting weak technical signals and heightened market risk aversion.

A major factor behind the drop is significant whale activity, with over 60 billion SHIB moved to exchanges in the past 24 hours.

Large inflows often precede selling, particularly in low-liquidity conditions, amplifying the risk of price declines as buyers struggle to absorb the additional supply.

Investor sentiment has also played a role, as the Fear & Greed Index shows “Extreme Fear” at 16/100.

Bitcoin dominance has also risen to 58.44%, signalling a rotation of capital away from riskier altcoins like Shiba Inu.

SHIB’s high-beta nature makes it particularly vulnerable during periods of market-wide risk aversion, and its lack of intrinsic utility exacerbates the impact.

Metrics reflecting the altcoin season indicate a diminishing appetite for speculative tokens, further weighing on the SHIB price.

Technical analysis signals a bear market

From a technical analysis standpoint, Shiba Inu (SHIB) continues to trade below key moving averages, with the 7-day SMA at $0.000009027 and the 30-day SMA at $0.0000097059.

In addition, the RSI sits at 39.04, indicating no oversold conditions and limited upward pressure from buyers.

Furthermore, the volume contraction of 22.57% reinforces the lack of momentum, suggesting that even moderate selling could push the price lower.

According to the analysis, the June low of $0.0000083 serves as a critical support.

Shiba Inu price outlook

While the launch of the SHIB × Bitget Wallet Card and the 114M SHIB giveaway have generated excitement, they have not offset broader market and technical challenges.

Whale selling pressure, extreme fear sentiment, and weak technical indicators could limit the short-term impact of SHIB card adoption and reward incentives.

As a result, traders should watch the November low of $0.00000843, especially if exchange inflows persist.

Early today, a significant market move caught the attention of the crypto community. A Bitcoin whale or institution offloaded $114 million worth of BTC to Binance. Moreover, this transaction rattled the entire market, pushing Bitcoin price lower than $63,000. In addition, fears of another selloff mounted.

Bitcoin Entity Offloads Massive BTC Stash

According to Arkham Intelligence data, at 1:40 UTC+8, a whale or institution transferred 1,800 BTC, valued at $114 million, to Binance. Furthermore, this transfer caused the Bitcoin price to drop from $63,800 to $62,900. In addition, this entity has been active in the market recently.

Previously, it had withdrawn 6,725 BTC, equivalent to $437 million, from Binance and OKX. However, over the past five days, it transferred 3,481 BTC worth a whopping $217 million back to Binance at an average price of $62,300. Currently, the whale or institution still holds 7,867 BTC, worth approximately $494 million.

If the price of BTC rebounds again, the entity might capitalize on the recovered price just like it did today. This could lead to heightened volatility in the market. Moreover, other market participants are also divesting their Bitcoin holdings, raising concerns of a further price drop.

In the last 72 hours, Bitcoin miners have also been selling. They offloaded over 2,300 BTC, valued at approximately $145 million. Furthermore, this increased selling pressure has also contributed to the recent price decline. This selloff is noted as a strategy to limit losses after the fourth Halving event that curtailed block rewards from 6.25 BTC to 3.125 BTC.

Additionally, the German government has been liquidating its Bitcoin holdings. On Monday, July 1, it moved over 1,500 BTC. Out of this, 400 BTC worth over $25 million was sent to exchanges like Coinbase, Kraken, and Bitstamp. Since June, the total BTC selloff by the German government has reached over 2,700 BTC.

These events have led to heightened market activity and volatility. The cumulative effect of whale movements, miner sell-offs, and government liquidations has intensified the downward pressure on Bitcoin price. Moreover, last month, the U.S. government also sold a whopping 4,000 BTC with speculations of another selloff impending.

Also Read: Breaking: German Govt Dumps 400 BTC To Major Exchanges, Transfer Spree Continues

What’s Next For BTC Price?

CryptoQuant CEO Ki Young Ju commented on the current market situation. He termed the current Bitcoin trend as “boring” but also branded it as an “opportunity” to enter the market. In a post on X, he wrote, “Bitcoin market is boring with less volatility. Less interest from both buyers and sellers. Retail exit liquidity not ready. Ideal time for whales to accumulate $BTC. We’re still in a bull cycle. Boring is an opportunity.”

Ki Young Ju’s observations suggest that the market’s current lack of volatility could be a strategic accumulation period for whales. However, despite the recent sell-offs, he believes the bull cycle is still intact. Furthermore, crypto analyst Ali Martinez provided additional insights.

He noted, “Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month.” Hence, Martinez’s historical analysis implies that despite June’s downturn, BTC could see significant gains in July.

The recent actions by large holders, miners, and governments have created a complex market environment. The whale’s transfer of 1,800 BTC to Binance, along with the significant miner and government sell-offs, has increased selling pressure and volatility.

At press time, the Bitcoin price was down by 0.73% to $62,837.79 on Tuesday, July 2. Whilst, the crypto boasted a humongous market valuation of $1.23 trillion. However, the 24-hour trade volume for Bitcoin clocked a whopping $21.75 billion, potentially due to the huge selloffs.

Also Read: Breaking: Metaplanet Boosts Bitcoin Strategy With 10:1 Share Consolidation Amid Key Changes

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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.