Key Insights
- Over 138 billion SHIB tokens were recently moved to exchanges, signaling strong selling intentions among traders.
- Shiba Inu struggles to hold above $0.0000105 as its former support level has now turned into resistance.
- On-chain data reflects declining sentiment and weakening momentum, suggesting further price pressure in the near term.
Shiba Inu is entering a critical market phase as data reveals nearly 138 billion SHIB tokens flowing into exchanges. The increased inflows suggest that many holders are preparing to sell amid weakening technical conditions. This surge in exchange activity confirms traders’ growing willingness to offload their holdings as sentiment turns bearish.
After a brief attempt at recovery, Shiba Inu continues to hover near $0.0000105, showing limited strength to rise above its new resistance range between $0.0000117 and $0.0000122. The previous support level has now reversed, reinforcing bearish sentiment. The chart structure remains weak, with SHIB locked in a descending triangle pattern, while the 200-day exponential moving average stays well above current trading levels, emphasizing deep market fatigue.
Downtrend Intensifies as Sell-Off Continues
The ongoing sell-off started in early October when the asset slipped below the psychological $0.0000100 mark, followed by a mild bounce that failed to gain traction. Although there was a temporary positive net inflow of around 150 billion SHIB on October 15, analysts believe this may indicate short-term stabilization rather than a trend reversal. Historically, such inflows tend to precede phases of heightened volatility as liquidity gathers on exchanges.
Without strong buying support, SHIB could retest lower zones near $0.0000095 or even $0.0000085, where prior accumulation occurred. Both technical and social momentum remain weak, and trading volumes continue to decline. Market sentiment also appears muted, signaling that Shiba Inu might remain under pressure in the near term.
