- SHIB exchange reserves climb higher while breakout momentum weakens across markets.
- Rising exchange supply increases sell pressure risks despite strong support remaining.
- SHIB holds a crucial support level while traders monitor possible recovery continuation.
Shiba Inu (SHIB) is once again approaching the closely monitored 82 trillion exchange reserve level as concerns surrounding potential sell pressure return across the market. Recent blockchain data showed centralized exchanges currently holding between 81.9 trillion and 82.3 trillion SHIB tokens, a range previously associated with weaker price momentum and heavier distribution periods.
Exchange reserve levels remain important because traders often transfer assets onto exchanges before selling or securing profits. Consequently, the latest increase in SHIB reserves immediately attracted attention from investors monitoring the token’s short-term market structure.
At the same time, exchange netflow activity continued to show inconsistent movements in recent weeks. Large outflows still appeared across several trading sessions despite the rising reserve amount. That mixed behavior created uncertainty around whether long-term holders continued accumulating tokens or whether sellers gradually regained control of the market.
SHIB also maintained a fragile technical structure despite failing to sustain its recent breakout attempt. The token formed a rising triangle pattern during March and April while resistance developed between $0.0000064 and $0.0000065. Meanwhile, support remained near the $0.0000060 level.
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SHIB Struggles to Hold Momentum as Exchange Supply Expands
Buyers recently pushed SHIB above resistance levels before momentum weakened again. The token later slipped back below resistance, signaling that bullish momentum still lacked enough strength for a confirmed breakout.
Nevertheless, SHIB continued trading above its ascending support trendline and remained above the 20-day moving average. Additionally, the Relative Strength Index stayed near neutral territory instead of entering oversold conditions. Those indicators suggested momentum slowed without fully collapsing.
Source: Tradingview
The growing exchange supply now remains the main obstacle facing SHIB bulls. More than 82 trillion tokens currently sit on centralized exchanges, increasing the risk of stronger sell pressure if demand weakens further. Consequently, rallies could continue facing resistance unless buying activity accelerates significantly.
Technical indicators still pointed toward a possible recovery scenario if buyers reclaim momentum quickly. A confirmed breakout above $0.0000065 could expose SHIB to additional upside toward the 200-day moving average near $0.0000075. However, failure to defend support near $0.0000060 could invalidate the current bullish structure and extend consolidation across the meme coin market.
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