Shiba Inu Stalls as Sellers Gain Upper Hand on Exchanges

Shiba Inu's (SHIB) recent recovery has stalled due to increased selling pressure. According to exchange-flow data, SHIB tokens are moving towards trading platforms rather than away from them, indicating a short-term imbalance in favor of sellers.

Average exchange flows reveal that inflows significantly outpace outflows, with mean exchange inflow at roughly 1.4396 billion SHIB per transaction and mean exchange outflow at 364.95 million SHIB. This disparity is also reflected in the top-10 flow data, where total inflow value exceeds total outflow value.

The price chart shows that SHIB failed to break above its long-term moving average of $0.00000574 and has retreated to around $0.00000534, down roughly 2% from the previous day's high. Despite some positive signs, including an RSI near 61 indicating somewhat bullish momentum, SHIB remains below its longer moving averages.

The imbalance in exchange flows suggests that SHIB will need to absorb additional supply that could become available for sale. Support areas at around $0.0000049 and $0.0000046 may come into play if the token fails to break above its current resistance level.