SHIB Sellers Gain Traction Amid Shiba Inu Price Slowdown

Key Summary

Shiba Inu (SHIB) has recorded a substantial exchange inflow of approximately 277 billion tokens, sparking concerns of bearish interpretations. However, SHIB's price remains relatively constructive, trading around $0.00000570 and above several short- and medium-term moving averages. The token has recently pushed above the long-term moving average near $0.00000560-$0.00000570 and is supported by multiple layers of support around $0.00000520-$0.00000540. The RSI sits in neutral-to-moderately bullish territory, giving SHIB room for another upside attempt. A sustained breakdown below $0.00000560 could expose $0.00000540 and $0.00000520, undermining the September recovery structure, while holding above the long-term average keeps the bullish scenario intact.