Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Once again, Shiba Inu is getting close to the 82 trillion SHIB exchange reserve threshold, one of the most closely watched on-chain levels in its ecosystem. Following months of erratic outflows and accumulation activity, centralized exchanges currently hold approximately 81.9-82.3 trillion SHIB tokens, according to recent exchange reserve and netflow data. This represents a significant change in supply dynamics.
Shiba Inu's supply grows
This is important because exchange reserves are tokens that can be sold easily. Large SHIB movements onto centralized exchanges are typically interpreted by the market as increasing sell pressure. When getting ready to rotate liquidity, reduce exposure, or take profits, traders and whales typically move assets to exchanges. In the past, times of lower price momentum and heavy distribution have been associated with SHIB crossing above the 82 trillion range.
However, the current state of affairs is more complex than a simple bearish signal. Recent data also reveals significant outflows from exchanges over the past few weeks, and exchange netflow metrics remain erratic. While some analysts contend that long-term holders are still accumulating despite the growing reserve amount, others interpret the return to 82 trillion as proof that sellers are regaining control of the short-term market structure.
The uncertainty is reflected in the chart itself. Before establishing a rounded accumulation base in March and April, SHIB experienced months of severe declines. The price then formed a rising triangle structure with horizontal resistance between $0.0000064 and $0.0000065, and ascending support close to $0.0000060. However, SHIB recently slipped back beneath resistance after failing to maintain its breakout attempt, indicating that buyers still lack the momentum to push the market higher.
Supported movement
While RSI remains close to neutral territory rather than falling into oversold conditions, SHIB continues to trade above the rising support trendline and above the 20-day moving average. This implies that momentum has cooled instead of completely reversing.
Supply overhead is currently the major problem. Unless demand increases dramatically, rallies may continue to face strong sell pressure, given the more than 82 trillion SHIB that are currently available on exchanges. A clear breakout above $0.0000065 could open the path toward the 200-day moving average near $0.0000075, but if support near $0.0000060 is not defended, the bullish structure is likely to be invalidated, exposing SHIB to another protracted consolidation phase.
Dan Burgin
U.Today Editorial Team
