Daily News 19

Tag: SHIB price analysis

  • Shiba Inu’s (SHIB) 87 Trillion Threshold Is on the Verge of Breaking Down

    Shiba Inu’s (SHIB) 87 Trillion Threshold Is on the Verge of Breaking Down

    Shiba Inu exchange reserves are nearing a major on-chain milestone, with holdings just below 87 trillion $SHIB. The latest data shows approximately 86.9973 trillion tokens in exchange-linked wallets, leaving a gap of about 2.7 billion $SHIB. Relative to the total reserve, that difference is negligible.

    Rising exchange reserves could pressure $SHIB

    Shiba Inu exchange reserves could move above 87 trillion without any extraordinary transfers. Reserves increased by a further 0.04% over the past 24 hours, but that rise would not necessarily be bullish for $SHIB.

    Exchange reserves measure the amount of an asset held in wallets associated with cryptocurrency exchanges. Sustained growth generally means more tokens are immediately available for trading and potential selling. Conversely, declining reserves can indicate that tokens are moving into private custody.

    Current flow data also favors exchanges. Total $SHIB inflows stand at 271.53 billion tokens, compared with outflows of 222.25 billion. This leaves netflow positive at approximately 34.47 billion $SHIB.

    Some conflicting signals remain. The seven-day moving average of mean exchange outflows has declined 40.62% to roughly 502.1 million $SHIB. Although total outflows increased by 0.5%, the ordinary mean outflow rose by 0.51%. This suggests there is no significant withdrawal wave capable of rapidly reducing exchange reserves at present.

    Shiba Inu price remains near key support

    The 87 trillion reserve threshold is particularly important because of recent $SHIB price action. After recovering from the $0.000005 region, Shiba Inu is trading at approximately $0.00000518. That price is close to both the shorter-term average at $0.00000501 and the 100-day EMA at $0.00000498.

    $SHIB has therefore maintained its immediate technical support, although upside momentum remains limited. The Relative Strength Index is near 54, pointing to neutral-to-moderately bullish momentum rather than an overheated market.

    The 200-day EMA at $0.00000570 remains the more significant resistance level. A recent move above that threshold was quickly rejected. Selling pressure could become more difficult to absorb if exchange reserves firmly exceed 87 trillion while inflows continue to outpace outflows.

    For now, the 87 trillion level is primarily psychological. The more important factor will be whether reserves continue rising after the threshold is crossed while $SHIB struggles to move decisively away from $0.000005.

    Source: cryptonews.net

  • Shiba Inu (SHIB) Sees Bullish Outflows Surge 79% in 24 Hours

    Shiba Inu (SHIB) Sees Bullish Outflows Surge 79% in 24 Hours

    Shiba Inu’s exchange-flow structure has improved significantly, with $SHIB outflows rising sharply over the past 24 hours. The shift comes as the token retests the $0.000005 region, making the change in exchange activity particularly important.

    Over the last day, $SHIB outflows from centralized exchanges increased by approximately 79%, signaling a substantial acceleration in tokens leaving trading platforms.

    Shiba Inu exchange outflows outpace inflows

    The latest data shows total $SHIB outflows of roughly 447.7 billion tokens, compared with exchange inflows of only 134.95 billion. This produced a netflow of approximately negative 312.75 billion $SHIB, a pattern that is generally favorable for the token.

    $SHIB/USDT Chart by TradingView

    Withdrawals reduce the amount of Shiba Inu available for spot selling on exchanges. When outflows substantially exceed deposits, the liquid supply held on exchanges may decline. However, exchange withdrawals alone do not confirm that holders intend to accumulate $SHIB over the long term.

    Exchange data supports a bullish shift

    Additional metrics also point to improving exchange-flow conditions. The seven-day moving average for mean exchange outflows rose 127.82% to approximately 940.84 million $SHIB. The number of withdrawing addresses increased by 1.16%, while outflows associated with the top 10 transactions climbed 2.84%.

    At the same time, Shiba Inu exchange reserves fell 0.36% to about 86.95 trillion $SHIB. Those reserves declined 1.53% in U.S. dollar value.

    SHIB price tests key $0.000005 support

    The timing is significant because $SHIB is currently trading near $0.00000505. After pulling back from a spike to $0.00000620, the token is attempting to stabilize around the psychologically important $0.000005 level. The area also contains dynamic support between $0.00000497 and $0.00000499.

    As the previous rally lost momentum, the relative strength index is near 52, indicating broadly neutral momentum. Shiba Inu still faces significant resistance. Its latest attempt to move above $0.00000570, which corresponds to the 200-day moving average, was unsuccessful.

    Even so, exchange-flow data currently favors buyers over sellers. Approximately 448 billion $SHIB has left exchanges, compared with around 135 billion entering them. If these outflows continue alongside a sustained defense of the $0.000005 level, another attempt to recover the $0.0000055–$0.0000057 resistance zone could become more likely.

    Source: cryptonews.net

  • Shiba Inu Burn Rate Surges 1,020%, Destroying 20.82 Million SHIB Tokens

    Shiba Inu Burn Rate Surges 1,020%, Destroying 20.82 Million SHIB Tokens

    Shiba Inu’s daily burn rate surged by more than 1,020% after 20.95 million $SHIB tokens were sent to inaccessible dead wallets over the past 24 hours, according to the Shibburn website.

    The sharp increase followed several days of subdued burn activity. Daily Shiba Inu burns declined from more than 40 million $SHIB on August 23 to approximately 5 million tokens, then dropped further to 2,551,224 $SHIB on August 29 before rebounding sharply.

    Over the past seven days, a total of 85.48 million $SHIB was burned. Despite the latest surge, the weekly burn rate remained down 46.20%. Over the last 30 days, 607.34 million $SHIB was removed from circulation.

    Since the Shiba Inu token’s launch, 410,844,015,547,496 $SHIB has been burned from its initial supply of 1 quadrillion tokens across 21,690 transactions.

    At the time of writing, $SHIB was up 0.81% over the previous 24 hours after a broader weekend market decline. The downturn followed Federal Reserve Chairman Kevin Warsh’s expressed concern about current inflation trends.

    Warsh’s closely watched remarks at the Fed’s annual symposium in Jackson Hole, Wyoming, avoided committing to forward guidance. Traders subsequently increased the probability of a rate hike at the September policy meeting.

    $SHIB price awaits its next move

    $SHIB declined after reaching a high of $0.00000623 on August 22. Although bulls attempted to restore upward momentum, resistance pushed the Shiba Inu price below the daily 200-day moving average at $0.00000538.

    Shiba Inu remains below that level, with resistance at $0.00000538, represented by the daily MA 200, as well as $0.00000553, $0.00000575 and $0.00000623. Meanwhile, the token continues to test support around the $0.000005 level.

    If the decline continues, Shiba Inu could attempt to turn the daily 50-day moving average at $0.0000047 into support.

    The possibility of consolidation or range-bound trading remains as the daily relative strength index flattens at 54. Shiba Inu may continue moving between its 50-day and 200-day moving averages before making its next major move.

    Shiba Inu is down 6.85% over the past week but remains up 9.77% so far in August, putting it on track for its second positive month since June.

  • 7 of 8 Shiba Inu (SHIB) Spot Flow Timeframes Turn Red: What to Expect From the Price

    7 of 8 Shiba Inu (SHIB) Spot Flow Timeframes Turn Red: What to Expect From the Price

    Shiba Inu is facing renewed selling pressure after its latest recovery attempt, with spot-flow data suggesting that buyers are struggling to maintain control. Following rejection at a recent local high, $SHIB is trading near $0.00000532, while seven of the eight short-term flow periods recorded negative net inflows.

    Shiba Inu spot inflows remain weak

    The imbalance is visible across multiple time frames. Net inflow over five minutes stood at -$11,460, while the 15-minute and 30-minute readings were approximately -$29,970 and -$89,170, respectively. The one-hour period showed a further deficit of $49,130.

    $SHIB/USDT Chart by TradingView

    The weakness continued across longer periods. Net flow over four hours was -$75,850, while the eight-hour figure was -$50,970. Only the 12-hour period remained slightly positive, with net inflows of approximately $25,430.

    A negative net inflow means that more capital left $SHIB spot markets than entered them during the measured period. This does not guarantee that the price will decline, but the consistent outflows across several time frames point to weak immediate demand after $SHIB’s sharp advance.

    Price action supports that view. Shiba Inu recently climbed from approximately $0.0000044 to a brief high near $0.0000062 before sellers quickly pushed the token lower.

    Shiba Inu faces resistance near $0.0000057

    The clearest technical barrier is the long-term moving average, currently positioned near $0.00000572. $SHIB has so far failed to reclaim that level, although it continues to trade comfortably above its shorter moving averages at approximately $0.00000532.

    The first significant support zone lies between $0.00000497 and $0.00000499. Another moving average provides support near $0.00000468.

    These levels suggest that while the recent breakout structure has weakened, it has not been completely invalidated. Momentum has also normalized. After briefly entering overbought territory, the relative strength index is now around 58, leaving $SHIB more room to move in either direction.

    For bulls, the immediate objectives are to reclaim $0.0000055 and then break through the $0.0000057-$0.0000058 resistance area. A move above those levels would bring the recent $0.0000062 high back into focus.

    However, continued negative spot flows combined with a break below $0.0000050 could expose $SHIB to a correction toward $0.0000047. For now, the flow data favors consolidation or further short-term pressure rather than an immediate continuation of the previous rally.

    Source: cryptonews.net