Summary Shiba Inu exchange inflows reached 401.26 billion SHIB, exceeding 317.72 billion withdrawals and increasing potential selling pressure across trading platforms. SHIB trades near $0.00
Shiba Inu faces increased selling pressure as investors move considerably more SHIB onto exchanges than they withdraw from trading platforms. Exchange data shows mean inflows reached roughly 1.4396 billion SHIB per transaction, compared with only 364.95 million SHIB leaving exchanges.
Consequently, average deposits are nearly four times larger than withdrawals, showing substantially more tokens moving toward exchanges. Moreover, the ten largest inflow transactions totaled approximately 5.98 billion SHIB, while the biggest outflows accounted for only 2.33 billion SHIB.
Overall exchange activity shows a similar imbalance, with inflow volume reaching approximately 401.26 billion SHIB against 317.72 billion SHIB in outflows. Exchange deposits do not automatically translate into sales because investors can transfer tokens for collateral, trading, or other activities.
However, rising exchange balances increase available sell-side liquidity, potentially creating stronger downward pressure when buying demand cannot absorb additional supply.
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SHIB’s price structure reflects growing pressure, with the token struggling to maintain momentum above the important $0.000006 psychological level. SHIB subsequently returned toward $0.00000534, while its daily performance declined approximately 2% during the latest trading session.
Significantly, buyers could not overcome the long-term moving average near $0.00000574, leaving that level as a major technical barrier. Nevertheless, SHIB remains above shorter moving averages positioned between $0.00000457 and $0.00000493, providing support beneath the current market price.
Source: Tradingview
Additionally, the Relative Strength Index remains near 61, suggesting bullish momentum persists without reaching heavily overbought market conditions. A sustained move above $0.00000574 could strengthen SHIB’s recovery structure and bring the $0.000006 resistance level back into consideration.
Conversely, weakness below those levels could increase attention around $0.0000049, which represents the first significant downside support area. Further selling could expose approximately $0.0000046, particularly if exchange deposits remain elevated while demand struggles to absorb available tokens.
SHIB faces pressure from heavier exchange inflows and unresolved technical resistance, leaving buyers responsible for absorbing potentially higher available supply.
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The post Shiba Inu Faces Selling Pressure as Exchange Inflows Outpace Withdrawals appeared first on 36Crypto.
