Recently, Shiba Inu (SHIB) has gained investors' attention due to significant changes in blockchain data, particularly a sharp decline in net inflows to exchanges.
SHIB Trading Activity
Recent blockchain data shows that net inflows of SHIB to exchanges have dropped by 70%. This indicates mounting selling pressure on the altcoin. In the past week, an average of 1.5 billion SHIB coins have entered exchanges, which raises the likelihood of investors liquidating positions. Such activity typically results in increased selling pressure in the market.
Key Price Levels for Shiba Inu
Current price movements have highlighted short-term support and resistance levels for Shiba Inu. Technical analysis suggests a support range between $0.0000135 and $0.0000138 for the altcoin. A break below this range could potentially lead to a decline to $0.0000127. On the resistance side, the $0.0000145 level stands out: surpassing this threshold might prompt renewed price increases.
Market and Forecasts
Current indicators suggest that investors should closely monitor exchange inflow and outflow data. The price trajectory of SHIB is significantly shaped by this activity, making it a key factor influencing short-term movements.
Changes in Shiba Inu's trading activity and price levels highlight the importance of monitoring exchange inflow data, which can significantly impact market behavior.
