Shiba Inu Sees 164 Billion SHIB Leave Exchanges as Selling Pressure Eases
- Significant Outflows: Over the past 24 hours, Shiba Inu (SHIB) recorded more than 164 billion SHIB leaving centralized exchanges, indicating that selling pressure may be starting to ease, which could attract more investors to hold rather than sell.
- Active Address Growth: Despite weak prices, active addresses and transfer activity have increased, demonstrating stable network participation that may provide a foundation for future price rebounds.
- Declining Exchange Reserves: Exchange reserves have further declined by 0.19% over the past day, indicating a reduction in the number of SHIB tokens available for immediate sale, which may suggest that investors are moving assets into long-term storage.
- Technical Resistance Remains: Although the signs of outflows and declining reserves indicate easing selling pressure, SHIB still faces technical resistance, as the price has failed to break above the 20-day and 50-day moving averages, necessitating attention to the support level near $0.0000055.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0000047 | 0.00000497 | 0.00000524 | 0.00000551 | 0.00000578 | 0.00000605 | 0.00000632 |
| Fibonacci | 0.00000497 | 0.00000517 | 0.0000053 | 0.00000551 | 0.00000571 | 0.00000584 | 0.00000605 |
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