Shiba Inu exchange inflows hit 1.1 billion as price retests 200-day average
On-chain data shows average exchange inflows of about 1.10 billion SHIB in a day, arriving as the token slips back to its 200-day moving average after a rejection near $0.0000062.
Key points
- Average exchange inflow rose 1.98% in a single day to roughly 1.10 billion SHIB, per on-chain data cited by U.Today.
- The ten largest inflow transactions totalled about 5.40 billion SHIB, while overall inflows increased 0.98%.
- Outflows also climbed: the top ten rose 2.14% and the average outflow 2.24%, leaving netflow negative.
- SHIB trades near $0.00000568 after another rejection from the $0.0000060 to $0.0000062 zone.
- The RSI has eased toward the mid-50s after nearing overbought levels during the earlier rally.
Shiba Inu exchange inflows reached about 1.10 billion tokens on average in a single day, according to on-chain data reported by U.Today, arriving just as the token's September recovery comes under fresh selling pressure. The shift in exchange-flow data favours deposits, and SHIB has returned to one of its most important long-term technical levels.
The average exchange inflow rose 1.98% in a day to roughly 1.10 billion SHIB, U.Today reports. The ten biggest inflow transactions accounted for about 5.40 billion SHIB, while overall inflows increased 0.98%. Tokens moved onto trading platforms are immediately available for sale, so rising deposits can act as a warning sign.
The picture is not entirely bearish. Exchange outflows are climbing too, with the top ten outflows up 2.14% and the average outflow up 2.24%. Overall netflow remains negative, meaning withdrawals still outweigh deposits. The difficulty is that these mixed flows are landing while the price is already falling.
Deposits to exchanges rise
SHIB is trading around $0.00000568 after another rejection from the $0.0000060 to $0.0000062 region. The token had broken above its 200-day moving average for the first time in months, but the latest drop has brought it back to that indicator at $0.0000056 to $0.0000057. U.Today describes this area as crucial: if the 200-day average holds, the pullback could still be read as a retest of the September breakout.
For another attempt at $0.0000061 to $0.0000062 to become possible, buyers would first need to reclaim $0.0000059, according to the report. A clear breakdown below $0.0000056 would be far more damaging, opening the way to the moving-average cluster around $0.0000051 to $0.0000052 and exposing roughly $0.0000054, which would put SHIB back under long-term resistance.
Momentum is already weak. Recent red candles show buyers struggling to hold moves above $0.0000060, and the relative strength index has fallen toward the mid-50s after approaching overbought territory during the previous rally.
Price retests key average
Because outflows remain substantial, the billion-token average inflow does not by itself signal an imminent sell-off, U.Today notes. Combined with the rejection and the return to the 200-day average, however, it adds another obstacle to a bull market breakout that had only recently started to gain traction.