What to Know:
- More than 160 billion SHIB entered exchanges as positive netflows increased available trading supply.
- SHIB approached the 50-day EMA while improving momentum indicators suggested stronger buying interest despite the broader bearish technical market structure.
- Long-term exchange reserves remained lower, although rising short-term inflows increased uncertainty around SHIB’s immediate price direction near resistance levels.
More than 160 billion Shiba Inu tokens have moved onto cryptocurrency exchanges, increasing attention on the token’s short-term outlook. According to CryptoQuant, data exchange inflows climbed to approximately 160.8 billion SHIB, while exchange netflows turned positive above 18 billion SHIB.
Those figures indicate that more tokens entered trading platforms than left them during the reporting period. Such activity often attracts market attention because assets deposited on exchanges become readily available for trading. As a result, traders are watching whether the additional supply influences SHIB’s next move.
SHIB traded near $0.0000114 while approaching an important technical resistance level. The token has stabilized around the $0.0000110 support area following several weeks of weakness.
Meanwhile, momentum indicators have started improving from previously oversold conditions. The Relative Strength Index has also climbed above 40, suggesting that buying activity has strengthened.
Technical Resistance Meets Rising Exchange Supply
The 50-day exponential moving average near $0.0000118 represents the first major resistance level. Moreover, the 100-day and 200-day moving averages remain above the current price, reinforcing the broader bearish trend.
Consequently, any attempt to move higher could face renewed selling pressure around those levels. Traders often monitor such areas because they frequently influence short-term price direction.
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At the same time, the rise in exchange inflows adds another factor to watch. Higher exchange balances increase the amount of SHIB available for potential selling. Although elevated inflows do not always trigger immediate sell-offs, they often signal that investors are preparing for increased trading activity.
However, one supportive indicator remains in place. Long-term exchange reserves have maintained a downward trend despite the recent inflow spike, suggesting that broader accumulation has not completely disappeared.
Conclusion
The movement of more than 160 billion SHIB onto exchanges has placed exchange activity at the center of Shiba Inu’s market outlook. At the same time, the token is approaching a key resistance zone that could determine its next price direction. Market participants will closely monitor whether buyers absorb the additional supply or whether sellers regain control near the major moving averages.
Also Read: XRP ETFs Recorded Only 5 Days of Outflows in 3 Months – But Why Is XRP Price Not Rising?
