Sixty billion Shiba Inu tokens were recently added to exchanges in a single day, which could be a sign of an upcoming market pressure surge. An inflow of this size frequently indicates that holders are getting ready to sell their holdings, which could increase volatility in SHIB’s already volatile price structure. In one of the biggest short-term increases in months, exchange reserves jumped to 85.4 trillion SHIB, according to data from CryptoQuant.
These inflows typically occur before sell-offs as traders transfer assets to exchanges in an effort to reduce risk or secure profits. The crucial question at hand is: who is selling? Although daily flows are influenced by retail traders, the magnitude of this movement raises the possibility that whales or sizable institutional wallets are liquidating holdings in preparation for market weakness or as part of a larger portfolio rebalancing process. But the story that price action conveys is a little different. SHIB is currently trading at about $0.00001305, exiting a consolidation pattern and rising above the 100-day EMA at $0.00001297 and the 50-day EMA at $0.00001287.
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Short-term prospects appear bright for this breakout, especially since SHIB also broke above its declining resistance trendline. The RSI has increased to 55, indicating healthy bullish pressure without being in overbought territory, indicating that momentum is also improving. The larger obstacle, the 200-day EMA at $0.00001386, is still the biggest obstacle to SHIB’s midterm prospects.
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Strong resistance at this level could put SHIB at risk of reversing back toward the $0.00001262 support if sellers connected to the recent inflows keep unloading. SHIB’s price chart is currently displaying bullish intent with a technical breakout and improving momentum, but the inflow of 60 billion tokens to exchanges is concerning.
It is possible that the current rally will not last long if these tokens are in fact being prepared for liquidation. The following days will be crucial for traders: a break and hold above $0.00001386 would validate strength, while a rejection at that level would confirm concerns that big sellers are in charge.
Source: https://u.today/60000000000-shiba-inu-shib-in-24-hours-whos-selling