Shiba Inu's Exchange Reserves Exceed 82 Trillion, Increasing Selling Pressure
- Selling Pressure Signal: Shiba Inu's reserves on exchanges have surpassed 82 trillion, indicating a growing tendency among investors to sell rather than hold, which poses a significant threat to the token's future and may hinder price recoveries.
- Price Action Constraints: SHIB's price has faced resistance at the 100-day Exponential Moving Average, where brief rallies have been followed by aggressive selling, reflecting a market trapped in prolonged distribution with shallow and short-lived price increases.
- Rising Address Activity: Although there has been a slight increase in active addresses, this activity is primarily linked to speculative trading rather than long-term investment, failing to provide a clear signal of market sentiment change.
- Structural Challenges: For SHIB to experience a significant trend reversal, a reduction in the amount of tokens held on exchanges is necessary, but with reserves consistently above 82 trillion, the likelihood of achieving this in the short term appears increasingly unlikely.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB 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, SHIB 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 $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000296 | 0.00000402 | 0.00000527 | 0.00000633 | 0.00000758 | 0.00000864 | 0.00000989 |
| Fibonacci | 0.00000402 | 0.0000049 | 0.00000544 | 0.00000633 | 0.00000721 | 0.00000775 | 0.00000864 |
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