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After a robust recovery from its August lows, Shiba Inu is getting close to a crucial resistance zone, but exchange activity indicates that the rally may soon encounter significantly more selling pressure. During the most recent 24-hour period, SHIB recorded total exchange inflows of about 168.18 billion tokens.
Exchange flows turn ugly
While the mean exchange inflow reached roughly 733.61 million SHIB, inflow activity increased by 0.83%. About 3.53 billion tokens were in the ten biggest deposits alone. Since tokens placed on trading platforms are instantly available for sale, exchange deposits are typically significant.
Although the current increase occurs at a problematic technical moment for SHIB, it is not severe enough to confirm a large-scale distribution event. After making a significant comeback from the $0.0000044–$0.0000045 range, the token is currently trading at around $0.00000552.
The 50-day moving average near $0.00000515 and the 100-day moving average around $0.00000503 have both been reclaimed by SHIB. That framework continues to be supportive. The 200-day moving average, however, is currently directly above the market at roughly $0.00000568.
Shiba Inu's late stage chapter
Additionally, SHIB was unable to hold onto the strong late-August move that momentarily pushed it closer to $0.0000059, putting the current recovery beneath significant long-term resistance.
Momentum does not yet indicate a clear breakout, but it does support additional upside. SHIB is in bullish territory without reaching overbought conditions, as the daily RSI is close to 60, above its moving average of 56. An important counterargument is also found in the exchange data.
The total outflows exceeded the inflows of 168.18 billion SHIB, totaling about 208.98 billion SHIB. As a result, netflow is currently negative at 26.64 billion SHIB, and exchange reserves have slightly decreased by 0.03%. Therefore, the inflow figure by itself does not demonstrate that holders have begun to dump SHIB.
As of right now, the critical level is $0.00000568. The recovery could continue toward the former $0.0000059–$0.0000062 region if there is a clear breakout above the 200-day moving average. Failure there would raise the likelihood of a pullback toward $0.00000515 and $0.00000503, particularly in conjunction with accelerating exchange inflows.
Dan Burgin
U.Today Editorial Team
