Just as Shiba Inu's September recovery was starting to appear structurally stronger, it is now under fresh selling pressure. The balance is shifting in favor of deposits, according to exchange-flow data, and SHIB has concurrently returned to one of its most significant long-term technical levels.
Shiba Inu poured to exchanges
According to the most recent on-chain data, the average exchange inflow increased by 1.98% in a single day to approximately 1.10 billion SHIB. The ten biggest inflow transactions totaled about 5.40 billion SHIB, while overall inflows increased by 0.98%.
Since tokens transferred onto trading platforms are instantly available for sale, an increase in exchange deposits may be a warning sign. The data isn't all bearish, though. Additionally, exchange outflows are rising: the top 10 outflows increased by 2.14%, while the average outflow increased by 2.24%.
The overall netflow is still negative, indicating that withdrawals continue to outweigh deposits. The issue is that SHIB's price is already declining when these mixed flows arrive. Following yet another rejection from the $0.0000060–$0.0000062 region, SHIB is currently trading around $0.00000568.
For the first time in months, the token broke above its 200-day moving average, but the most recent drop has returned the price to that indicator at $0.0000056–$0.0000057. The present area is therefore crucial. The most recent drop may still be seen as a retest of the September breakout if SHIB maintains the 200-day average.
Recovery isn't secured?
Then, before another attempt at $0.0000061–$0.0000062 becomes feasible, buyers would have to recover $0.0000059. A clear breakdown below $0.0000056 would be far more detrimental.
The moving-average cluster around $0.0000051–$0.0000052 would follow, putting SHIB back under long-term resistance and exposing about $0.0000054. Already, momentum is certainly not there.
Recent red candles indicate that buyers are having difficulty sustaining moves above $0.0000060, and the RSI has fallen toward the mid-50s after approaching overbought territory during the previous rally.
Because outflows are still significant, the billion-token average inflow does not by itself indicate that a sell-off is imminent. However, when paired with SHIB's rejection and return to the 200-day average, it creates yet another barrier to a bull market breakout that had only recently begun to gain traction.
