What to Know
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Shiba Inu recorded just 538 withdrawal transactions as exchange inflows exceeded outflows, producing net inflows of 63.49 billion SHIB.
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SHIB traded near $0.00000503 as weak trading volume and an RSI near 40 reflected persistent bearish momentum across the market.
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Exchange reserves climbed to 87.11 trillion SHIB, while resistance at $0.00000526 and support near $0.00000480 shaped the price outlook.
This imbalance increased SHIB holdings on trading platforms, raising potential selling pressure, although exchange deposits do not necessarily indicate immediate sales. Net inflows declined 5.42% over 24 hours, while exchange reserves rose 0.07% to 87.11 trillion SHIB, indicating increased exchange supply.
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SHIB Price Struggles Below Key Moving Averages
SHIB’s price showed similar weakness after retreating from approximately $0.00000600 in early October, finding support near $0.00000480 before forming a small green candle. Trading volume remained subdued during the recovery attempt, while the Relative Strength Index hovered around 40, indicating persistent bearish momentum.
Source; TradingView
On the upside, immediate resistance stood near $0.00000526, followed by additional barriers at $0.00000534 and $0.00000560 that buyers must overcome. A sustained break above these resistance levels could strengthen SHIB’s recovery prospects, while losing $0.00000480 support could expose $0.00000460.
Withdrawal Count Masks Larger Exchange Deposits
The 538 withdrawal transactions underscored limited outbound activity, but transaction counts cannot identify unique holders or their motives. One transfer may also contain substantially more tokens than several smaller withdrawals combined.
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That distinction matters since withdrawals outnumbered deposits while total inflow volume remained higher. Rising reserves therefore provide a clearer measure of exchange balances than withdrawal counts alone.
A stronger recovery would require sustained buying activity and a shift toward net exchange outflows. Until those changes appear, support near $0.00000480 remains an important level for monitoring price direction.
