Shiba Inu (SHIB) tokens worth $75 billion entered crypto exchanges in just one day.

During a period of crypto market buoyancy, Shiba Inu is registering a significant increase in memcoin inflows to exchanges. According to blockchain data, net inflows to exchanges increased by 75 billion SHIB over the previous day, which could lead to increased selling pressure. Currently, total inflows to exchanges stand at 193,32 billion SHIB, while outflows stand at 131,59 billion SHIB.

Net inflows are approximately 61,73 billion SHIB, but the net volume entering exchanges has increased by approximately 75 billion tokens compared to the previous figure.

Source: TradingView

When inflows exceed withdrawals, the likelihood of a sell-off increases significantly. Exchanges currently hold approximately 87,36 trillion SHIB, up 0,07% from the previous day, increasing the vulnerability of the SHIB price.

After a significant rebound from the August low near $0,0000044, the token is currently trading around $0,00000543. The ascending trendline on the daily chart remains intact, and SHIB has formed a series of higher lows. However, resistance is clearly approaching. With the 200-day moving average at $0,00000568, the $0,0000056–$0,0000057 area represents a significant technical barrier.

Following its August surge to $0,0000062, SHIB has already experienced significant selling within this range. Currently, momentum is not overheated, but rather constructive. There's a chance for another attempt to break resistance without entering the overbought zone, as the daily RSI is hovering around 58.

This setup is complicated by additional exchange supply. If net inflows continue to rise while SHIB tests the 200-day moving average, sellers will have significantly more liquidity.

On the other hand, holding above the rising support in the $0,0000051-$0,0000052 region despite these inflows would mean that additional exchange supply is being absorbed by current demand.