SHIB breaks its descending anchor band, while stronger volume supports the move and traders watch whether support can hold today.
Around 811 billion SHIB reportedly hit main exchanges, which could lead to selling pressure if holders sold.
Resistance is coming to a price near $0.000005443, and the bulls' $0.0000052 key level is holding firm.
SHIB breakout activity is reshaping the near-term setup, while exchange inflows introduce a competing supply concern for traders.
Anchor Band Break Changes the Technical Structure
The daily chart shows a prolonged decline beneath a descending red anchor band. Repeated rebounds failed there, keeping lower highs and lower lows intact. That structure changed after buyers pushed decisively above the resistance zone.
CW (@CW8900) said SHIB had broken the anchor band and turned bullish. The chart supports that reading through its latest vertical breakout candle. Its indicator panel also shows bullish trend and volume signals alongside an active setup.
Source: X
The breakout followed consolidation near the lower end of the recent range. Buyers then accelerated, pushing price through the marked yellow resistance levels. That move shifted the immediate structure from rejection toward attempted continuation.
However, the breakout must be followed up before a longer-term trend reversal can be validated. A bullish trend would lose strength if the return was below the anchor band. A successful retest could instead establish that former resistance as fresh support.
Momentum Gains Strength From Higher Trading Activity
The chart records a sharp volume expansion during the late-July advance. That surge accompanied the strongest upward price movement shown in the recent structure. It indicates heavier participation during the breakout phase rather than quiet price movement.
Source: Coinmarketcap
SHIB as of the time of writing was trading near $0.000005443 after a 3.63% daily gain. Its displayed 24-hour volume increased more than 134%, reaching hundreds of millions. Volume relative to market capitalization also stands near 11.76% in the provided data.
Price had rallied slightly higher to around $0.0000052 from the $0.0000062 zone. Later it was rejected and went back to the $0.0000056 zone. The latest price action therefore reflects consolidation after an unusually sharp upward move.
The $0.0000052 area remains an important reference for the bullish structure. Meanwhile, $0.0000055 to $0.00000575 forms the immediate recovery zone. Reclaiming the upper boundary could place the recent $0.0000062 peak back into focus.
Exchange Flows Create a Separate Supply Test
Compass Investments reported about 811 billion SHIB entering centralized exchange wallets. The reported transfers included major platforms such as Binance and Coinbase. Such movements can increase tokens available for trading and potential selling.
The reported amount equals roughly 0.14% of the displayed circulating supply. That figure remains relatively small against the overall supply base. However, concentrated deposits can still affect short-term liquidity conditions.
Compass Investments interpreted the transfers as possible profit-taking by longer-term holders. Yet exchange deposits alone do not confirm that selling has occurred. Tokens can also move between custody arrangements or prepare for future trading.
The key test is whether exchange inflows coincide with aggressive selling and weaker bids. Rising deposits alongside falling support would strengthen the distribution argument. Stable prices despite those transfers would suggest buyers are absorbing available supply. That distinction matters when interpreting exchange data alongside price action.
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