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SHIB Shiba Inu token flow attracts market attention
Recently, the strong rebound in Shiba Inu (SHIB) price has attracted the attention of market observers, and a large number of tokens have flowed into the exchange. In the past 24 hours, net inflows to exchanges have increased by approximately 75 billion SHIBs. This trend suggests that short-term market liquidity may be increasing.
What does increased exchange traffic mean?
data shows that the total inflow was 193.32 billion SHIBs, while the outflow was 131.59 billion SHIBs, resulting in a net inflow of approximately 61.73 billion SHIBs. Compared to previous indicators, this marks a significant shift in the direction of capital flows, rather than a proportional change, suggesting that the supply of tokens on centralized platforms is growing.
Is the increase in Shiba Inu reserves a signal that a sell-off is imminent?
Shiba Inu reserves on the platform also increased, reaching 87.36 trillion SHIBs, an increase of 0.07%. The monetary value of these reserves increased by 0.44% to approximately US$477 million. This increase comes as the tokens approach technology-sensitive price areas, potentially preparing for an increase in their trading activity.
More reserves suggest that stakeholders may be taking strategic moves to pave the way for increased selling power, especially as tokens approach key resistance levels. When prices approach significant resistance thresholds, these changes are usually monitored closely.
How does resistance affect current trends?
After recovering from a low of around $0.0000044 in August, the SHIB is currently trading around $0.0000543. The daily chart shows a clear uptrend line, with lows gradually rising, and the range between US$0.000056 and US$0.000057 constitutes a strong technical obstacle. The current 200-day moving average is at $0.0000568.
During its most recent rally to $0.000062, SHIB faced huge selling pressure at these levels. The daily relative strength index (RSI) is around 58, indicating that momentum remains positive and there is potential to re-test resistance.
"SHIB's move towards the 200-day moving average, coupled with increased exchange inflows, may provide more liquidity to sellers in the near term."
Currently, market attention is focused on the rising support area of US$0.000051 to US$0.0000052. If SHIB can remain above this support level, it may mean that the increased supply from the exchange has been absorbed by existing demand. Failure to hold this support level could put pressure on increased net inflows as they try to break through resistance.
As Shiba Inu dynamics evolve, the complex balance of inflows and outflows will remain a key factor that traders and analysts watch closely to predict future price movements.
