Shiba Inu exchange balances reach 87.16 trillion SHIB, U.Today data shows
In brief
- SHIB exchange balances stood at about 87.16 trillion tokens, up 0.08% in a day, per U.Today.
- SHIB inflows of 344.17 billion beat outflows of 268.47 billion, leaving netflow near 72.56 billion.
- Exchange reserve value rose 4.12% to about $449.76 million, per U.Today.
- U.Today concluded sellers still held the advantage, citing weak volume and larger inflows.
What the exchange data shows
U.Today put total SHIB exchange inflow at 344.17 billion tokens, up 2.36%, against outflow of 268.47 billion (up 1.78%). That's where the netflow of about 72.56 billion SHIB comes from. It isn't a dramatic shift, though: the reserve itself moved just 0.08% in a day.
In dollar terms, the outlet valued the exchange reserve at about $449.76 million, up 4.12% over the same period. U.Today also said average inflow per transaction spiked, which it read as large holders moving coins. The report doesn't name the data provider for any of these numbers.
Where price sits, per U.Today
SHIB fell from around $0.00000620 in September to a low near $0.00000480 in October, the outlet reported. Price now sits just below the 50-day and 100-day EMAs (roughly $0.00000525 to $0.00000535), while the 200-day EMA near $0.00000560 has acted as a ceiling for months, according to U.Today.
Momentum isn't much help either. U.Today said RSI was near 45, which it described as weak momentum with a slight upward turn, and that low trading volume meant the current bounce lacked strong support.
The two scenarios U.Today laid out
These are U.Today's projections, not a LeoDex News forecast.
On the downside, the outlet said that if exchange-held coins were sold, SHIB could lose $0.00000500, retest the $0.00000480 low and potentially move toward $0.00000450. On the upside, it said a daily close above $0.00000535 could put SHIB back over its short-term averages, with $0.00000560 as the next test.
U.Today's own conclusion was cautious: rising exchange reserves, larger inflows and weak volume, in its reading, meant sellers still held the advantage.
