Shiba Inu Surges 8.32% Amid Exchange Listing and Supply Tightening

Shiba Inu (SHIB) is experiencing strong intraday demand, as its price surges by 8.32% to $0.0000052. The token's short-term moving averages are also above current levels, indicating a bullish trend.

The listing of SHIB on the UEX.US exchange has increased trading opportunities and access to financial services for holders. This expansion in market accessibility is boosting spot demand and liquidity, while over 110 billion tokens being withdrawn from exchanges tightens available supply and amplifies spot market dynamics.

Despite the bullish momentum, technical signals are warning of possible exhaustion risks. The Relative Strength Index (RSI) is at 72.2, with both Stoch RSI and CCI deeply overbought, flagging potential pullback risks.