The recent influx of Shiba Inu tokens to exchanges, exceeding 20 billion, has sparked various market predictions. Data analysis indicates a significant increase in trading volume and conditions for potential volatility.
Inflow of SHIB Tokens to Exchanges
Over the last day, the inflow of Shiba Inu tokens to exchanges increased from 34 billion to over 51 billion. Data from CryptoQuant indicates one of the largest one-day spikes in recent months. Such actions are typically associated with increased selling pressure, as significant transfers of tokens to centralized exchanges usually signal that investors are ready to sell.
Current SHIB Price and Consolidation
On the price front, SHIB is consolidating within a symmetrical triangle that has been forming since July, trading close to $0.0000126. The triangle is nearing its apex, with the price trapped between resistance at $0.0000132 and support at $0.0000120. This pattern suggests that a major move may be on the horizon, but the spike in inflows raises a warning: if these tokens are indeed positioned for sale, it may lead to a downturn.
Possible Consequences for SHIB Traders
This unexpected inflow of 20 billion SHIB warns traders to brace for increased volatility. While it does not guarantee a sell-off, it raises the likelihood of downward pressure, particularly if SHIB fails to reclaim resistance levels above $0.000013. However, it could also set the stage for a surprise upward movement after the triangle resolves if buyers absorb the inflow and the price maintains support.
SHIB is at a crossroads, as large inflows of this nature rarely go unnoticed. In the coming sessions, it will become clear whether this indicates the start of renewed selling or opens the way for unexpected price movements.
