SHIB Reclaims $0.000005, But Inflows Signal Caution ⚠️
Shiba Inu ($SHIB) staged a rebound from its daily low of $0.00000493 to trade around $0.00000510. While reclaiming the $0.000005 psychological level offers short-term relief, on-chain metrics point to potential sell pressure ahead.
Key Data Breakdown:
Net Inflow Surge: Exchanges recorded total inflows of 256.44B SHIB against outflows of 202.63B SHIB, resulting in a net addition of ~53.80B SHIB (+3.69%) in just 24 hours.
Reserves on the Rise: Total exchange reserves climbed to 87.236T SHIB (valued at approximately $441.4M), confirming steady deposits over recent sessions.
Technical Hurdle: The bounce remains fragile without strong volume confirmation. SHIB faces resistance overhead at the 100-day moving average near $0.00000525 and the 200-day near $0.00000558.
Large net deposits to centralized exchanges typically indicate that holders may be positioning to take profit or hedge against volatility. Bulls need a daily close above the $0.00000525 zone to validate genuine continuation.
Are you buying this dip, or waiting for a clear breakout? Drop your thoughts below! 👇
#SHIB #CryptoNews #BinanceSquare #Memecoins #OnChainData
$SHIB
Shiba Inu ($SHIB) staged a rebound from its daily low of $0.00000493 to trade around $0.00000510. While reclaiming the $0.000005 psychological level offers short-term relief, on-chain metrics point to potential sell pressure ahead.
Key Data Breakdown:
Net Inflow Surge: Exchanges recorded total inflows of 256.44B SHIB against outflows of 202.63B SHIB, resulting in a net addition of ~53.80B SHIB (+3.69%) in just 24 hours.
Reserves on the Rise: Total exchange reserves climbed to 87.236T SHIB (valued at approximately $441.4M), confirming steady deposits over recent sessions.
Technical Hurdle: The bounce remains fragile without strong volume confirmation. SHIB faces resistance overhead at the 100-day moving average near $0.00000525 and the 200-day near $0.00000558.
Large net deposits to centralized exchanges typically indicate that holders may be positioning to take profit or hedge against volatility. Bulls need a daily close above the $0.00000525 zone to validate genuine continuation.
Are you buying this dip, or waiting for a clear breakout? Drop your thoughts below! 👇
#SHIB #CryptoNews #BinanceSquare #Memecoins #OnChainData
$SHIB