Shiba Inu Breaks Key Technical Barrier Amid Rising Exchange Reserves

Shiba Inu (SHIB) has broken through a major technical barrier that had been limiting its recovery for months. According to data, SHIB has finally surpassed $0.00000560 on the daily chart, strengthening its recovery structure.

However, rising exchange reserves and a positive netflow of nearly 200 billion SHIB could put pressure on the breakout. On-chain exchange data indicates that the rally may now face significantly more selling pressure.

The token's most recent gain has lifted it above its long-term moving average, which was close to $0.00000560 and had repeatedly thwarted attempts at recovery since August. The latest move above $0.00000560 arrived alongside a noticeable expansion in trading volume.

Exchange activity poses a risk, with SHIB's exchange reserve nearing the $534 million mark. Investors are selling, with total exchange inflows standing at approximately 477.5 billion SHIB against roughly 286.4 billion SHIB in outflows.