Shiba Inu ($SHIB ) Market Update: On-Chain Activity Surges, But Price Fails to Follow
$SHIB is trading near $0.00000485**, down roughly **6% this week**, after repeated rejections at the **$0.00000520–$0.00000530** resistance zone . The token has slipped below its short- and mid-term moving averages clustered around **$0.00000500–$0.00000515, which have now flipped from support to resistance .
What's Happening On-Chain: Network activity jumped 216%, adding roughly 1.6 billion SHIB to on-chain metrics, but buyers haven't followed through . Exchange flows remain mixed—outflows spiked earlier, but inflows have outpaced them recently, keeping net supply on exchanges elevated . Burn activity has been erratic, with some days seeing only $29 worth of SHIB destroyed, barely denting the 589 trillion circulating supply .
Key Levels: $0.00000480** is the critical short-term support. A break below opens the door to **$0.00000460–$0.00000440**, with **$0.00000410 as a deeper target . To reverse the bearish structure, SHIB must reclaim $0.00000500–$0.00000515 and then $0.00000550 .
Binance Trade Setup: Stay cautious. A long only makes sense if $SHIB reclaims $0.00000500** with volume, targeting **$0.00000530–$0.00000550**, stop below **$0.00000475. If $0.00000480 breaks, the trend favors downside. DYOR—meme tokens are highly volatile.
#shib #meme #binance
$SHIB is trading near $0.00000485**, down roughly **6% this week**, after repeated rejections at the **$0.00000520–$0.00000530** resistance zone . The token has slipped below its short- and mid-term moving averages clustered around **$0.00000500–$0.00000515, which have now flipped from support to resistance .
What's Happening On-Chain: Network activity jumped 216%, adding roughly 1.6 billion SHIB to on-chain metrics, but buyers haven't followed through . Exchange flows remain mixed—outflows spiked earlier, but inflows have outpaced them recently, keeping net supply on exchanges elevated . Burn activity has been erratic, with some days seeing only $29 worth of SHIB destroyed, barely denting the 589 trillion circulating supply .
Key Levels: $0.00000480** is the critical short-term support. A break below opens the door to **$0.00000460–$0.00000440**, with **$0.00000410 as a deeper target . To reverse the bearish structure, SHIB must reclaim $0.00000500–$0.00000515 and then $0.00000550 .
Binance Trade Setup: Stay cautious. A long only makes sense if $SHIB reclaims $0.00000500** with volume, targeting **$0.00000530–$0.00000550**, stop below **$0.00000475. If $0.00000480 breaks, the trend favors downside. DYOR—meme tokens are highly volatile.
#shib #meme #binance