125 Billion SHIB Tokens Disappear from Exchanges—Implications for Price Explained
Significant Token Withdrawals: Shiba Inu has seen a withdrawal of over 125 billion SHIB tokens from exchanges, indicating increased investor confidence and a shift towards holding assets in private wallets.
Market Sentiment Shift: The exchange flow data has declined by more than 11% in 24 hours, suggesting a reversal from previous selling trends, with both retail and institutional investors participating in the withdrawal activity.
Price Recovery: Shiba Inu's price has increased by 1.16% to $0.000007477, rebounding from a recent low, with rising trading volume indicating genuine buying interest.
Favorable Market Conditions: The positive momentum in the broader cryptocurrency market, including gains in Bitcoin, has contributed to renewed interest in speculative assets like Shiba Inu.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36049.129 | 48024.564 | 60319.149 | 72294.584 | 84589.169 | 96564.604 | 108859.189 |
| Fibonacci | 48024.564 | 57295.712 | 63023.437 | 72294.584 | 81565.732 | 87293.457 | 96564.604 |
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