Shiba Inu coin prices face selling risk after 75 billion SHIB changes

TLDR： Contents

TLDR:

• Shiba Inu prices face rising exchange-side pressure
• Technical aspects determine the recent price trend of SHIB

Shiba Inu prices rose 0.89% to US$0.0000545, but net exchange traffic increased by 75 billion tokens. This has exacerbated recent supply pressures. The total inflow to the exchange was 193.32 billion SHIBs, and the outflow was 131.59 billion SHIBs, resulting in a positive net inflow of nearly 61.73 billion tokens. The primary resistance facing SHIB is US$0.0000548, followed by the US$0.000056 to 0.000057 range and the 200-day moving average. Open interest positions climbed nearly 19%, with US$0.0000541 as nearby support, and lower support levels below were US$0.0000533 and US$0.000051 to US$0.000052.

Shiba Inu (SHIB) prices

Shiba Inu prices are facing rising exchange-side pressure

According to Cryptorank data, total inflows to the exchange reached 193.32 billion SHIBs, while outflows were 131.59 billion SHIBs. This difference resulted in a net inflow of approximately 61.73 billion tokens. Compared with the previous reading, the net amount flowing to exchanges increased by approximately 7.5 billion SHIBs.

Exchange inflows of SHIB do not prove that the holder intends to sell. Owners may transfer tokens for transactions, mortgages, custody changes, or portfolio restructuring. However, continued net inflows increase the supply that is immediately available on centralized platforms. This could enhance near-term selling power during resistance testing.

Exchange reserves provide background information. The number of SHIBs held by trading platforms was approximately 87.36 trillion, up 0.07% from yesterday. Its dollar value rose 0.44% to approximately $477 million. The faster increase in value also reflects the increase in the daily price of the token.

The continued rise in reserves will expose Shiba Inu prices to deeper liquidity in the trading market. In contrast, a reversal in net inflows would reduce the instant pool of tokens available for trading. This makes the flow of funds critical during the current resistance test period.

Shiba Inu prices have rebounded significantly from US$0.000044 near August lows. At its current position, the trading price of the token is approximately 24% higher than the bottom. A rising daily trend line remained intact, supported by a series of higher lows.

The primary resistance level is around US$0.0000548. Above this level, traders will face a broader supply area of US$0.000056 to US$0.000057. The 200-day moving average is near $0.0000568, adding weight to the barrier. SHIB suffered heavy selling there after rallying to about $0.000062 in August.

Technical aspects determine the recent price trend of SHIB

Kinetic buyers still have room to test again. The daily relative strength index (RSI) is located near 59, below the common overbought area. This reading shows positive momentum without the extreme conditions that accompany an exhaustive rise.

The price outlook for SHIB depends first on US$0.0000541. Holding this nearby support level can make $0.0000548 within reach. Decisively breaking through the resistance level will bring back market attention to the 200-day moving average. Failure to hold US$0.00000541 may expose the next short-term level, which is around US$0.0000533.

Source: TradingView

Deeper support is in the uptrend area between US$0.000051 and US$0.0000052. With the SHIB exchange's inflows remaining high on the defensive state, if the area can be held, it indicates that market demand is absorbing the increased supply from the platform. A break below this zone would weaken the high structure established since August.

Derivatives positioning may amplify any trend. According to reports, open interest positions have expanded by nearly 19%, marking an increase in leverage exposure on SHIB contracts. Leverage can accelerate gains when resistance levels are breached; but it can also intensify declines when price declines trigger liquidations and forced liquidations.

The current environment currently provides some downwind assistance. The total value of the entire cryptocurrency market increased by approximately 0.96%, while Dogecoin increased by 4.85%. This strength of memoin helps explain why Shiba Inu prices can still record an increase even as exchange balances rise.

Traders are closely watching the U.S. Consumer Price Index (CPI) report due for release on September 11. Inflation surprises may change expectations for monetary policy and change the demand for risk. Previously, Shiba Inu's price outlook was concentrated on exchange supply, leverage positioning, support at $0.0000541 and resistance around $0.0000548.