64 Billion SHIB Tokens Moved Across Exchanges in 24 Hours
In brief
- 64 billion SHIB tokens moved across exchanges within 24 hours
- Exchange inflows increased considerably, with reserves edging higher
- SHIB broke below rising support and slipped beneath key moving averages
- RSI fallen near oversold territory; key support at $0.00001100–$0.00001150
- Large transfers signal major holder repositioning and liquidity movements
Exchange Pressure Mounts
Exchange inflows have increased considerably for SHIB, with exchange reserves also edging higher. Rising balances on trading platforms can signal that more tokens are becoming available for sale, which typically translates into increased selling pressure and volatility. Large token transfers often reflect repositioning by major holders, liquidity movements, or preparation for future trading activity.
The timing matters. SHIB has been dominated by a broader bearish trend for most of the past year, creating a headwind for any sustained recovery.
Technical Breakdown
The technicals paint a cautious picture. SHIB recently broke below a rising support pattern that had been developing throughout the spring recovery period, and the price has slipped beneath several key moving averages. The Relative Strength Index (RSI) has fallen close to oversold territory.
Traders are watching the key support level around $0.00001100–$0.00001150. A break below that zone could accelerate selling. Conversely, if SHIB stabilizes there, it might signal that the selling wave is exhausted and a bounce could follow.
