Shiba Inu Sees 429 Billion Tokens in Exchange Flows
- Surge in Trading Volume: Shiba Inu recorded over 429 billion tokens moving through exchanges within 24 hours, resulting in a net inflow increase of over 10%, indicating holders' readiness to sell and potentially impacting market supply-demand dynamics.
- Rising Exchange Reserves: Current exchange reserves have climbed to approximately 81.7 trillion SHIB, suggesting a trend of holders transferring tokens to exchanges, which typically signals short-term selling intentions rather than long-term holding.
- Persistent Price Pressure: The price structure of SHIB trades within a weak upward channel, yet the overall trend remains downward, facing resistance near the 50 and 100-day exponential moving averages, which limits breakout potential.
- Market Structure Imbalance: Although there is a slight increase in active addresses indicating higher network participation, the lack of strong buying demand keeps the market skewed towards sell-side liquidity, making any upward attempts fragile.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 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 | 0.0000054 | 0.0000057 | 0.00000597 | 0.00000627 | 0.00000654 | 0.00000684 | 0.00000711 |
| Fibonacci | 0.0000057 | 0.00000592 | 0.00000605 | 0.00000627 | 0.00000649 | 0.00000662 | 0.00000684 |
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