Shiba Inu Market Update: 15.4 Billion SHIB Inflows and Key EMA Levels

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Shiba Inu siding with bears It might get worse Advertisement Recent on-chain data indicates that roughly 150.4 billion tokens are moving toward exchanges, which is adding to selling pressure, as the asset tries to stage a recovery . Shiba Inu is still struggling for directional momentum. Price action, at the moment, shows a market torn between sustained general bearish pressure and fleeting attempts at a recovery. Advertisement Shiba Inu siding with bears The 26-day EMA serves as an instantaneous resistance barrier, and SHIB is still well below its major moving averages on the daily chart. The fact that every recovery attempt in recent sessions has been capped close to this dynamic level indicates that medium-term price action is still controlled by sellers. Even though SHIB recovered briefly from recent lows, the move has not been able to change the overall trend structure thus far. SHIB/USDT Chart by TradingView Increased selling intent is often indicated by an influx of tokens on exchanges, and this seems to be in line with SHIB's recent price behavior . Rather than confirming a sustained reversal, price momentum weakened once more after the inflow spike, pushing the asset back toward lower support zones. More downward pressure is usually the outcome of increased exchange supply, particularly when market sentiment is still cautious overall. HOT Stories Morning Crypto Report: XRP Not Ready for $1.50: Bollinger Bands, Cardano Foundation Votes 'Yes' on 500,000 ADA Withdrawal, Kiyosaki Details 'Rich Dad' Bitcoin Strategy Ripple CEO Sees Major Legal Victory Likely This Spring It might get worse This outlook is further supported by volume analysis. Even though there have been sporadic buying spikes, they have not been sufficient to counteract the ongoing sell-side liquidity. Consequently, if support levels close to recent lows do not hold, SHIB is still susceptible to additional declines . Advertisement Notably, though, SHIB has shown that it can generate strong short-term recoveries following oversold situations. Short-term relief rallies are still possible, even though the overall trend is still weak, as indicated by the RSI level's slow recovery from depressed territory. Nevertheless, unless the price can recover and stay above the 26-day EMA, these rallies are probably going to encounter immediate resistance. SHIB might keep moving toward lower consolidation zones unless exchange inflows slow and buyers regain control above moving average resistance. Whether support levels out or selling pressure picks back up will be determined in the upcoming sessions. #Shiba Inu #Shiba Inu (SHIB) Price Prediction