SHIB dem wey dey comot from exchange don reduce as the token dey test $0.0000055 support
SHIB exchange netflow still dey negative, but di outflow trend don dey slow small. For di past 24 hours, about 164 billion SHIB tokens reportedly comot comot from centralized exchanges, and exchange reserves don drop another 0.19%, weh mean say less tokens ready for quick sell.
On-chain activity never collapse. Active addresses and transfer activity dey show small upticks, weh fit help reduce short-term sell-pressure if e continue.
Technically, SHIB still dey trade for a broader downtrend since March. The coin no fit reclaim di 20-day and 50-day moving averages and e dey test one key support area around $0.0000055 now. Momentum dey push towards oversold, but traders go likely need sustained buying confirmation rather than just one bounce.
Make you watch follow-through: if SHIB exchange netflow remain negative while reserves keep falling and network activity stabilizes or rise over multiple sessions, the market fit dey form an accumulation base. For stronger rebound, e go normally need to reclaim nearby resistance levels.
Neutral
News for SHIB mixed. For one side, steady negative SHIB exchange netflow and falling exchange reserves (down 0.19%) dem often read as reduced immediate sell pressure. Earlier easing of outflows fit support stabilization too.
But on the oda hand, SHIB still weak technically: e still below 20-day and 50-day moving averages and e dey test support around $0.0000055. Momentum wey dey push to oversold fit cause bounces, but if demand no change steady, rallies fit fade.
For trading, dis one point to range/confirmation behaviour rather than clear trend change. A bullish turn go need SHIB accumulation signals to continue for multiple sessions (netflow improving but still negative, reserves keep falling, activity holding) plus technical reclaim of resistance. If support fail, bearish technical background fit take over. Overall, the immediate setup more consistent with stabilization/accumulation risk than a definite directional move.