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Shiba Inu is at a technically sensitive point of the latest on-chain data, which adds an inevitable layer of pressure to Shima Attune. In a recent day, the amount of $SHIB entered trading platforms increased by about 152 billion over the past 24 hours. Inflows of large exchanges have historically been seen as a sign of potential sell pressure, with tokens moving from long-term storage to liquidity zones where they can be sold immediately.
Things are not getting better for $SHIB
This is a dangerous balance, as shown in the price chart by . In addition to recurrent failures to hold recovery attempts and declining moving averages, the ability of $SHIB is still in a “beautiful overall structure” that indicates that $$HIA remains under’very bearish’ condition. But the recent bounce has created a short-term rising trendline, meaning that buyers are trying to establish ‘local base bases for their own business’. This structure is still in its ‘fancy’ and can be easily paraphrased, but it remains vulnerable to the structures. As long as the price action is still below significant resistance levels, bulls are reversing the trend that has been dominant rather than in tandem with it.
But the cautious approach is supported by exchange metrics that support this slacky strategy. There are also more tokens being placed for sale, according to positive netflow and growing exchange reserves that suggest further token is now available for purchase. This liquidity is a burden on the increased liquidity even if not all of these tokens are dumped immediately after they have been issued by . Such circumstances often limit upside momentum and hold early rallies on markets such as $SHIB, where sentiment fluctuates rapidly.
But there are subtleties to know about . Some market participants seem to be accumulating or repositioning rather than just leaving, as is the case with high exchange outflows and withdrawal activity. This erratic behavior, instead of an explicit consensus on the direction itself, suggests uncertainty.
Higher lows forming
The most important question is whether the new rising trendline will be a significant part of technical analysis, or not? If $SHIB is above it and gradually moves into higher lows, the market could enter a stabilization phase. If the price moves sideways and below that support, it is at risk of reverting to a low-volatility grind (which historically suppressed speculative demand) on the asset.
A simple next step for investors is to monitor sustained volume and whether inflows are still growing. This structure would probably be a failed attempt at recovery, as it is likely to have been an unsuccessful attempt by another wave of exchange deposits without significant buying interest.
Thanks for reading +152 Billion Shiba Inu (SHIB) in Mere 24 Hours: Exchange Inflows Prompt More Selling
