Crypto
Shiba Inu Price Edges Up Amid Rising Token Inflows
Shiba Inu's price has edged up by 0.89% to $0.00000545, narrowly outperforming the broader crypto market.
A notable increase of about 75 billion SHIB tokens moving to exchanges has raised concerns over near-term supply pressure and potential selling pressure on the ongoing price recovery.
Key resistance levels lie at $0.00000548 and the 200-day moving average near $0.00000568, while support is found at $0.00000541 and lower levels.
Open interest in SHIB derivatives has jumped nearly 19%, indicating increased leveraged trading that could amplify price swings.