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SHIB Shiba Inu Market Trends: Significant Slowdown
Recently, the chain activity of Shiba Inu Coin (SHIB) at the exchange level has decreased significantly. The latest data shows that in the past seven days, the exchange's average daily withdrawal volume has dropped by 66.52% in one day to approximately 368.18 million SHIBs. This change shows that the speed at which investors withdraw assets from trading platforms has slowed significantly compared to before.
The dual effect of slowing exchange traffic
The decline in cash withdrawals means that the important momentum that normally reduces market availability is weakening. Under normal circumstances, when contemporary coins are transferred from exchanges to private wallets, the amount in circulation available for sale will decrease. However, recent data shows that this effect has not yet played a significant role.
Similarly, the number of SHIBs flowing into exchanges also fell by 40.42% to approximately 935.48 million. These numbers suggest a reduction in overall trading activity rather than simply one-way selling pressure.
It should be noted that the 66.52% decline in withdrawal volume does not mean that the same amount of SHIB has poured into the market. The key is that compared with previous data, the average withdrawal rate has slowed down significantly.
Net flow remained in the negative territory, at approximately-49.82 billion SHIBs, while exchange reserves only fell slightly by 0.06%. The stability of reserves suggests that there have been no large-scale transfer of tokens to exchanges.
Are there signs of price recovery?
Currently, there are no strong signs of price recovery. SHIB prices fell about 1% in one day to trade at $0.0000443. The price remains below the short-term moving average (between $0.00000448 and $0.0000456), while stronger resistance is at $0.0000489.
The long-term moving average is at US$0.0000576 and the Relative Strength Index (RSI) hovers around 44, which does not indicate that the market is oversold. Therefore, the technical outlook ranges from neutral to weak.
The current technical threshold that SHIB needs to pay attention to is to regain the US$0.000045 to 0.000046 range. If the price breaks above $0.000049, it may strengthen a more substantial rebound signal.
If downward pressure increases, you need to pay attention to the support area between US$0.000041 and US$0.0000042. Although recent on-chain data does not clearly show an increase in selling, token flows have stagnated significantly, which is consistent with the period when SHIB hovered near recent lows.
- The average daily withdrawal volume of exchanges fell by 66.52%.
- Exchange inflows fell 40.42%.
- Overall market activity slowed down rather than a change in one direction.
- Limited changes in exchange reserves indicate that there has been no large-scale asset reallocation.
For SHIB traders and enthusiasts, these slowing exchange traffic highlights the need to pay close attention to market dynamics and potential changes in investor behavior. These insights may help assess future price movements and trading opportunities for the cryptocurrency.
