Shiba Inu Tests Resistance Amid Exchange Netflow Surge

Shiba Inu (SHIB) has been trading near $0.00000594 resistance, which could lead to a breakout attempt drawing attention from traders.

The asset currently sits above its key short- and medium-term moving averages while remaining just below longer-term trend indicators.

A notable development for Shiba Inu is the substantial increase in exchange netflow, as over 69 billion SHIB were transferred to trading platforms.

This influx of tokens onto exchanges boosts available supply, potentially elevating selling pressure and affecting near-term liquidity conditions.