What to Know SHIB exchange deposits rose as average inflows reached 1.10 billion tokens, but withdrawals still exceeded deposits across tracked platforms overall. SHIB retreated toward its 20
Shiba Inu (SHIB) is testing its 200-day moving average near $0.0000056 as exchange deposits rise and sellers challenge its September breakout. However, withdrawals still exceed deposits overall, leaving the exchange-flow data less bearish than the price decline might suggest.
According to recent on-chain data, average exchange inflows rose 1.98% in one day to approximately 1.10 billion SHIB. Meanwhile, the ten largest deposits totaled about 5.40 billion SHIB, and overall inflows increased by 0.98%.
Higher deposits can place more tokens within reach of sellers because holders can trade SHIB once it reaches an exchange. Even so, the transfers do not show whether those holders have sold their tokens or intend to sell them.
Withdrawal activity also strengthened, with average outflows climbing 2.24% and the ten largest withdrawals increasing by 2.14%. Consequently, netflow remained negative, meaning holders removed more SHIB from exchanges than they deposited during the measured period.
The competing flows have emerged as SHIB retreats from $0.0000060 to $0.0000062, where sellers recently blocked its advance. At approximately $0.00000568 in the cited market data, the token sits close to the long-term average it reclaimed during September.
Also Read: Strategy Adds 1,665 Bitcoin While Drawing on Share Sales and Cash Reserves
The 200-day moving average lies around $0.0000056 to $0.0000057, making this area significant because defending it would preserve SHIB’s earlier breakout. A move above $0.0000059 would show buyers regaining ground and set up another test of $0.0000061 to $0.0000062, where previous advances stalled.
Conversely, a move below $0.0000056 would weaken the breakout and expose support around $0.0000054, followed by moving averages near $0.0000051 to $0.0000052. Momentum has also eased as SHIB returns to its 200-day average, with the relative strength index falling toward the mid-50s. Moreover, recent declining sessions show that buyers have struggled to sustain moves above $0.0000060.
Still, rising deposits alone do not establish a broader sell-off because withdrawals also increased, leaving more SHIB exiting exchanges than entering them. That distinction matters because deposits measure token transfers rather than completed sales, while SHIB’s price shows sellers resisting higher levels. Together, those readings place greater weight on whether buyers defend $0.0000056 and reclaim $0.0000059.
SHIB’s September breakout remains under pressure near its 200-day average, with a hold above $0.0000056 preserving the recovery pattern and a break exposing lower support.
Also Read: CBI Arrests Mahadev Betting Suspect as Dubai Money Trail Draws Scrutiny
The post Shiba Inu Exchange Deposits Rise as SHIB Retests Its 200-Day Average appeared first on 36Crypto.
