Shiba Inu reserves hit 82T SHIB on exchanges—selling pressure vs key $0.0000065 breakout
On-chain data shows Shiba Inu (SHIB) reserves held at major exchanges have climbed back to about 81.9–82.3 trillion SHIB, returning above the 82T level. Analysts say this can increase SHIB selling pressure because large exchange balances are often used for distribution, risk management, or profit-taking.
However, recent weeks also saw notable SHIB outflows, producing mixed net-flow signals. Some traders interpret this as continued long-term accumulation, while others view the return to 82T as short-term sellers regaining control.
Technicals remain indecisive. After steep declines, SHIB built an accumulation base in March–April and formed a triangle: resistance near $0.0000064–$0.0000065 and support around $0.0000060. Price momentum is fragile. The RSI is near neutral (not deeply oversold). SHIB is still trading above rising support and the 20-day moving average, suggesting the broader trend has not fully reversed.
Key trading levels: a decisive move above $0.0000065 could push SHIB toward the 200-day moving average near $0.0000075. Losing $0.0000060 would weaken the positive structure and may lead to sideways consolidation.
Crypto traders should watch exchange reserve changes alongside breakout/breakdown levels, as SHIB supply dynamics can quickly shift short-term sentiment.
Neutral
Exchange reserves for SHIB returning above ~82T is a classic setup that can precede higher selling pressure, and similar “exchange balance spikes” have often coincided with weaker upside when demand fails to absorb supply. At the same time, the article notes recent SHIB outflows and a still-intact technical base (price holding above rising support and the 20-day moving average), which can soften the bearish signal.
In the short term, traders are likely to focus on the $0.0000065 resistance. A clean breakout would turn the supply fear into a bullish momentum trade. Failure to break may keep SHIB range-bound as large exchange balances cap rallies. In the longer term, repeated cycles of high exchange reserves without sustained demand typically increase distribution risk; conversely, continued net outflows would suggest absorption by holders and could support a longer recovery.
Given the mixed flow backdrop and the market currently sitting between key support ($0.0000060) and resistance ($0.0000065), the most probable near-term outcome is indecision—hence a neutral expectation rather than a clear bullish or bearish trend.