Shiba Inu

Change

Momentum

Value

<p style="text-align: justify"><a href="https://en.coin-turk.com/shiba-inus-price-predictions-and-market-analysis/" rel="noopener noreferrer nofollow">Shiba</a> Inu (SHIB) continues to face mounting selling pressure as large volumes of the meme coin have recently moved onto cryptocurrency exchanges, signaling caution among traders and investors. Recent on-chain data indicates that 92.07 billion SHIB tokens have flowed into exchanges on a net basis, raising concerns about potential further declines as the token struggles to generate bullish momentum.</p>
<h2 id="rising-exchange-activity-and-netflows">Rising exchange activity and netflows</h2>
<p style="text-align: justify">Analytics platform CryptoQuant reported that SHIB’s net exchange flow reached 92.0678 billion, marking a 0.77% increase in the past 24 hours. Net positive exchange flows typically indicate that more tokens are entering exchanges than leaving, which can increase the available supply for potential selling.</p>
<p style="text-align: justify">Total inflows to exchanges reached 324.281 billion SHIB, up 1%, while outflows measured 232.2131 billion SHIB, a 1.13% rise. The resulting net deposit of about 92 billion tokens suggests that traders may be preparing to either sell their holdings or remain responsive to prevailing market volatility.</p>
<p style="text-align: justify">Exchange reserves for SHIB stood at 86.2525 trillion tokens, increasing 0.11% within the same timeframe. However, the US dollar value of those reserves declined 2.9% to approximately $418.32 million, reflecting decreasing SHIB prices despite higher token balances.</p>
<p style="text-align: justify">Similar patterns have emerged in recent months. For instance, on October 23, SHIB saw net inflows of 77.3 billion tokens, showing that these spikes in selling pressure have been a recurring theme in the market.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Metric</th>
   <th>Recent Value</th>
   <th>Change (%)</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Net exchange flow</td>
   <td>92.07 billion SHIB</td>
   <td>+0.77%</td>
  </tr>
  <tr>
   <td>Exchange inflow</td>
   <td>324.28 billion SHIB</td>
   <td>+1.0%</td>
  </tr>
  <tr>
   <td>Exchange outflow</td>
   <td>232.21 billion SHIB</td>
   <td>+1.13%</td>
  </tr>
  <tr>
   <td>Exchange reserves</td>
   <td>86.25 trillion SHIB</td>
   <td>+0.11%</td>
  </tr>
  <tr>
   <td>Reserves value (USD)</td>
   <td>$418.32 million</td>
   <td>-2.9%</td>
  </tr>
 </tbody>
</table>
<h2 id="technical-outlook-remains-cautious">Technical outlook remains cautious</h2>
<p style="text-align: justify">Technical indicators point to a weak near-term outlook for SHIB. The daily chart from TradingView shows the token trading at around $0.00000489, with recent closes below several major moving averages. This follows an unsuccessful effort to reclaim higher price levels earlier in October.</p>
<p style="text-align: justify">SHIB previously approached the $0.0000060 mark but met resistance and reversed direction, failing to maintain gains above $0.0000052. Sellers have since kept control of the price action, with immediate psychological resistance situated near $0.0000050 and stronger resistance expected between $0.0000054 and $0.0000056.</p>
<p style="text-align: justify">On the downside, SHIB sees initial support at $0.0000048, with a further fall potentially exposing the $0.0000044 area as the next significant level.</p>
<p style="text-align: justify">Momentum indicators are also signaling caution. The Relative Strength Index (RSI) for SHIB remains below the neutral 50 threshold, indicating subdued buying activity and reinforcing the prevailing bearish sentiment.</p>
<blockquote>
 <p>While SHIB’s net inflows to exchanges and technical indicators both highlight persistent selling pressure, analysts remain watchful for signs of a potential shift should support levels hold or market sentiment improve.</p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/92-billion-shib-flow-into-exchanges-highlights-selling-pressure/" rel="noopener noreferrer nofollow">92 billion SHIB flow into exchanges highlights selling pressure</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

92 billion SHIB flow into exchanges highlights selling pressure

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