Shiba Inu: 211B SHIB Rush to Exchanges – Sell-Off Imminent?

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<a href="https://pricpr.com/shib-usd/">Shiba Inu</a> Sees 211B <a href="https://jpyxx.com/shib-usd/">SHIB</a> Flow Into Exchanges as Sell Pressure Builds

Key Highlights

  • SHIB saw 211B tokens move into exchanges in 24 hours, showing more people may be preparing to sell.
  • Exchange reserves rose to 81.7T SHIB, and inflows are higher than outflows.
  • Price is stuck under $0.0000064–$0.0000066 resistance with low trading activity.

Over the last 24 hours, there’s been a significant increase in the amount of Shiba Inu (SHIB) tokens being transferred to cryptocurrency exchanges.

Data from CryptoQuant shows around 211 billion SHIB tokens have been transferred to exchanges. This suggests many SHIB holders are potentially getting ready to sell, rather than simply continuing to hold their tokens.

Tokens moving into exchanges

Recently, there’s been a 10% increase in the amount of SHIB moving into exchanges, and exchanges now hold around 81.7 trillion SHIB. More SHIB is entering exchanges than leaving, creating a shift in the token’s movement. Currently, SHIB is trading at $0.0000062, which is a 1.16% decrease over the past 24 hours.

Trading volume has decreased by 27% over the weekend, reaching $94 million, while the overall market value remains at $3.7 billion, as reported by CoinMarketCap.

SHIB price holds steady

The price of SHIB is currently trending slightly upwards, staying within a limited range. This is indicated by a pattern of gradually increasing low prices.

Overall, the market is still showing weakness. The price is now nearing a crucial resistance level between $0.0000064 and $0.0000066. This area has previously prevented the price from increasing, and it’s reinforced by important moving averages like the 100-day EMA, making it a significant obstacle.

Although the price has increased slightly, it hasn’t shown a strong surge in demand. Trading volume remains typical, suggesting buyers aren’t fully committed yet. The Relative Strength Index (RSI) of 53 confirms this neutral trend, meaning neither buyers nor sellers currently have a clear advantage.

Data from CryptoQuant shows the number of active addresses has fallen significantly, from 23,000 on April 25th to just 4,000 by May 1st. This decline reinforces the idea that demand is decreasing.

Shiba Inu has been steadily decreasing in value for quite some time. While we’re seeing a slight increase now, it’s likely just a temporary bounce and not a sign that the overall downward trend has reversed.

If the price doesn’t rise above the current resistance, it might fall to around $0.0000060. However, if the price can break past $0.00000662, it could increase to $0.00001013, where it will likely encounter further resistance.

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2026-05-02 18:46