SHIB reclaimed $0.000005 after bouncing from recent lows near $0.00000493. Exchange inflows exceeded outflows by nearly 54 billion SHIB tokens. Resistance near $0.00000525 remains crucial for
Shiba Inu has returned above a critical price level, giving holders a reason to stay optimistic. After slipping below $0.000005, the meme coin bounced back and climbed to around $0.00000510. The move looks encouraging at first glance. However, a surge of tokens flowing into exchanges has raised fresh questions. While network activity remains steady, traders now face a tug-of-war between improving price action and growing selling pressure.
https://twitter.com/Lucky_m_X/status/2112666651627860040SHIB recently recovered from a daily low near $0.00000493. Buyers stepped in and pushed the price back above the $0.000005 mark. That recovery suggests support remains active at lower levels. At the same time, SHIB's exchange data tells a different story. Exchange reserves climbed to 87.2364 trillion SHIB. The total value of those reserves now exceeds $441 million.
More importantly, inflows outpaced outflows during the last 24 hours. Around 256 billion SHIB moved onto exchanges. Meanwhile, roughly 203 billion SHIB left exchange wallets. That created a net inflow of nearly 54 billion SHIB. Such activity often attracts attention because exchange deposits can increase selling pressure. Many traders view rising exchange balances as a warning sign.
Coins held on trading platforms are easier to sell. As a result, growing reserves can weigh on price, especially near resistance zones. Not every metric points to weakness. Network activity continued to improve. Transaction count increased slightly and active addresses also moved higher. These gains remain modest, but they show users continue interacting with the network.
Technical indicators suggest buyers still have work ahead. SHIB continues trading below key moving averages. The 100-day moving average sits around $0.00000525. The 200-day moving average stands near $0.00000558. Together, those levels create a significant resistance zone. Buyers need a daily close above $0.00000525 to strengthen confidence in the recovery. Until then, sellers may continue defending higher prices.
Momentum indicators remain neutral to weak. The Relative Strength Index sits between 40 and 45. That reading shows limited buying strength without signaling oversold conditions. Trading volume has also declined, reducing confidence behind the recent bounce. Support remains between $0.00000480 and $0.00000493. Buyers successfully defended that range during recent sessions.
A break below support could lead to a move toward $0.00000450, a level that acted as support earlier this year. For now, SHIB remains in a crucial position. Price has reclaimed $0.000005, which is a positive sign. However, rising exchange supply continues to cast a shadow over the recovery. The next move may depend on whether buyers can overcome resistance before sellers take advantage of growing exchange balances.
