Shiba Inu Holds Key Support Despite Massive Exchange Inflow

Shiba Inu's price has held above key short-term support despite a significant surge in tokens sent to centralized exchanges. The data shows that approximately 465.652 billion SHIB entered exchanges, resulting in a net inflow of about 115.228 billion SHIB.

This increase in exchange supply can lead to potential selling pressure as tokens on exchanges are readily available for trading. However, Shiba Inu's price has recovered after briefly falling below $0.00000480 and is now moving back toward $0.00000537.

The token's ability to recover suggests that the increased supply did not translate into equivalent downward price pressure during this period. Additionally, Shiba Inu moved back above a cluster of shorter-term moving averages located between $0.00000500 and $0.00000520, improving its immediate technical structure.