A large number of Shiba Inu tokens – over 160 billion – have recently been transferred to cryptocurrency exchanges. This surge in activity suggests a potential increase in selling, especially as the price approaches a key resistance level. Data shows exchange deposits of SHIB have risen to approximately 160.8 billion.
SHIB inflows spike up
Shiba Inu token flows are showing a positive trend, with over 18 billion SHIB now moving *into* exchanges rather than being withdrawn. This is significant because tokens held on exchanges are readily available for buying and selling, so these shifts in deposits often indicate potential market activity.
While a sudden increase in deposits doesn’t always mean the market is going down, it often suggests investors are preparing to buy or sell more. Typically, large investors move their holdings to exchanges when they plan to take profits, especially if the price is nearing a key high. It’s interesting to note this is happening with SHIB right now, as the price is around $0.0000114 after a recent period of falling prices.
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The price is currently well below its key moving averages, with the first hurdle being the 50-day EMA at $0.0000118. The 100-day and 200-day moving averages continue to confirm the overall downward trend. After a sustained drop, the price has recently found some stability around $0.0000110, creating a temporary support level. Furthermore, indicators suggest that selling pressure is easing and the price may be starting to recover.
While selling isn’t as intense as it was in June and early July – suggested by the RSI rising above 40 – buyers still face a significant hurdle. Any price increase will likely meet resistance near the 50-day EMA, an area where sellers have consistently regained control recently.
Exchange reservers are descending
The recent increase in SHIB being sent to exchanges adds some worry because it could lead to more coins becoming available right as the price hits a potential resistance level. However, it’s encouraging that overall exchange holdings of SHIB are still decreasing over time, which means people are generally still holding onto their coins rather than selling.
Generally, short-term market movements have a bigger impact on prices right away than changes in long-term reserves. Currently, SHIB appears to be nearing a key price level where it might face selling pressure.
If the asset price rises to between $0.0000118 and $0.0000120 soon, we’ll likely find out if the recent large deposit of 160 billion SHIB tokens onto exchanges means people are preparing to sell for a profit, or just adjusting their holdings in anticipation of price swings.
2026-07-20 13:09