On-chain analysis detected that around 549 billion Shiba Inu (SHIB) tokens were deposited into exchange wallets in the past 24 hours, resulting in a significant surge in liquidity flowing into the trading platform. This sharp spike in Shiba Inu exchange inflows coincides with the asset testing significant structural support around the $0.00000608 level. A bearish SHIB death cross has formed on the intraday chart, and traders are now wondering if this supply wall will trigger a fall below the year-to-date lows.
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Rapid increase in inflows to SHIB exchange: What the 549B transfer means
Data from analytics providers such as CryptoQuant and U.Today highlight a worrying shift in SHiba Inu market dynamics. The injection of 549 billion tokens into foreign exchange reserves means a significant increase in potential seller-side pressure. Historically, rising foreign exchange reserves, similar to the significant rise in Bitcoin’s foreign exchange reserves, indicate that holders are subjecting their assets to liquidation rather than long-term cold storage. If this liquidity reaches the order book while demand remains weak, the resulting imbalance can cause prices to fall.
The movement also includes notable activity by large holders. According to the report, the movement of dormant whales is contributing to this influx, with certain wallets transferring large holdings to the Bitget exchange after being inactive for several months. Context is important here. While aggressive buying can sometimes absorb such inflows in bull markets, SHIB’s current structure is clearly bearish. Previous instances of similar trading volumes, such as the Kraken transfer analyzed earlier this month, have often preceded periods of consolidation or corrective price action.
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SHIB Price Analysis: Death Cross Approaching Major Support
In February, Shiba Inu’s technical structure deteriorated significantly. SHIB is currently trading around $0.00000608, dangerously close to the lower psychological support at $0.0000060. The biggest concern for analysts is the confirmation of a death cross on the 2-hour and 4-hour charts. This is a bearish signal formed when the 50-period moving average falls below the 200-period moving average. This pattern suggests that momentum has shifted in the bears’ favor.
Price movement is currently limited by dynamic resistance at $0.0000066. If the bulls are unable to recover these levels, SHIB price predictions will indicate a more severe correction. A decisive breakdown below the $0.0000060 support could open the door to the $0.00000592 level, confirming the series of lower highs and lower lows seen since the beginning of the year.
SHIB Price Analysis Source: TradingView
However, technical analysis of the cryptocurrency has revealed an oversold situation with the RSI (Relative Strength Index) currently hovering around 30. This could trigger a localized bailout backlash. For the bearish thesis to be invalidated, SHIB would need to break through the $0.0000072 resistance level and establish a higher low, but that scenario seems unlikely at the moment given the high overhead supply.
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What this means for the SHIB price outlook
The combination of large currency inflows and technical death crosses creates a high-risk environment for SHIB holders. Traders should closely monitor the $0.0000060 level. If a large number of trades close below this line, the breakdown will be confirmed. Conversely, if buyers intervene, the upside remains limited by the falling moving average.
This vulnerability reflects weaknesses seen across the memecoin sector, with even established tokens like DOGE entering the correction zone. Moreover, ecological safety remains a priority. The Shiba Inu team recently issued a scam alert regarding collection services, calling on investors to remain vigilant amid volatility. Until inflows level out, the path of least resistance appears to be down.
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SHIB tests support as Bitcoin hyper-presale gains momentum
While the Shiba Inu has struggled to defend its year-to-date lows, capital has begun to rotate toward new opportunities further out on the risk curve. Investors seeking a volatility strategy are increasingly turning to the Bitcoin Hyper ($HYPER) presale, which is gaining traction as a likely alternative to stagnant legacy meme coins.
Bitcoin Hyper is designed to leverage the security of the Bitcoin ecosystem while providing high-throughput transaction capabilities, and is positioned as a utility-focused layer on top of the standard Bitcoin narrative. The project is currently in the early stages of pre-sale, offering tokens at a discount compared to the planned listing price.
For traders tired of SHIB integration, $BHYPER offers a fresh market structure with specific staking APY incentives for early adopters. The project has already raised a significant amount of funding in its opening round, indicating a strong appetite for the new Bitcoin beta.
Users can join communities on Telegram and X (Twitter).
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Neil is a professional cryptocurrency content writer with years of experience. He writes articles reporting the latest news for various crypto websites and is hired by all kinds of crypto projects to create content that increases exposure and attracts more potential investors.
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