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Crypto

SHIB Exchange Inflows Soar But Price Likely to Continue Dropping

Guavy AI Editorial Team
Instruments
SHIB
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Shiba Inu (SHIB) has seen a significant surge in exchange inflows, increasing by 128% recently. This indicates more tokens are moving to exchanges, but net outflows remain higher, with about 87 billion SHIB leaving exchanges than entering.

The price of SHIB remains below key resistance levels and moving averages, indicating the market drop is unlikely to stop without stronger demand.

Despite a brief bounce in August, trading volume is below average, and technical signals favor bears.

The current bearish trend will continue unless SHIB breaks above $0.00000457-$0.00000490 with improved momentum.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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