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SHIB Market dynamics shift: Shiba Inu faces increased inflows into exchanges
Recent on-chain data from Shiba Inu (SHIB) shows that the transfer of tokens to exchanges has increased significantly, far exceeding the outflow. This change suggests that SHIB may face short-term selling pressure and its recent recovery momentum is difficult to maintain. Differences in exchange traffic reveal supply imbalances that may affect the cryptocurrency's market position.
What does traffic data reveal?
The average exchange inflow per transaction is approximately 1.4396 billion SHIBs, which is almost four times the outflow of 364.95 million SHIBs. This pattern is also reflected in the ten largest transactions: inflows reached approximately 5.98 billion SHIBs, while outflows were 2.33 billion SHIBs. Overall, the total inflow into the exchange was 401.26 billion SHIBs, and the outflow was 317.72 billion SHIBs. However, these transfers do not fully represent sales; investors may also use them for collateral, trading, or other purposes.
Inflows significantly exceeded outflows, implying an increase in the number of SHIBs available for sale and exacerbating short-term liquidity pressures.
Has the resistance level been broken?
No. Technical charts showed that SHIB failed to maintain its rally above US$0.000006, and prices fell back to approximately US$0.0000534, a daily decline of nearly 2%, highlighting its vulnerability to a short-term rebound. In addition, the SHIB failed to break through its long-term moving average of approximately US$0.0000574, which remains a key resistance level and prevents a clear upward trend after the recent recovery.
What are the key support levels and kinetic energy levels?
Although some indicators remain neutral, the Relative Strength Index (RSI) is close to 61, indicating that momentum has not yet been completely exhausted and the buying tendency remains. The SHIB remained above the short-term moving average, ranging from US$0.0000457 to US$0.0000493. Recovering $0.0000574 and then standing at $0.00006 is crucial to consolidating the upward trajectory.
For bullish momentum to regain strength, SHIB must regain $0.0000574, followed by $0.000006. The current key support level is US$0.000049, and another important level is approximately US$0.000046. The current focus on ongoing exchange deposits suggests that SHIB may need to absorb the additional supply of tokens from potential sales.
The average SHIB inflow per transaction is much higher than the outflow.
An increase in exchange deposits does not automatically equate to a sale.
SHIB prices failed to remain above key resistance levels.
Current support and RSI indicate that the buying trend remains resilient.
Continuous monitoring of exchange liquidity and technical resistance levels is critical to SHIB, as these factors can determine the cryptocurrency's immediate strategy and investor behavior in volatile markets. The significant changes in exchange flows add complexity to the upcoming trading session.
