Key Insights:
- Arkham data shows 370 billion SHIB moved to Binance and Bitget, increasing exchange balances and near-term tradable supply.
- SHIB holds support at $0.00000580 while resistance at $0.00000640 and $0.00000700 caps upside attempts for now.
- Momentum indicators stabilize as Awesome Oscillator weakens downside pressure and MFI signals moderate capital outflows across sessions.
Shiba Inu returned to focus after on-chain data showed a large holder shifting roughly 370 billion SHIB to exchange wallets. Data from Arkham Intelligence tracked the transfers to deposit addresses linked to Binance and Bitget over the past 24 hours. The transactions carried a value of several million dollars at current market prices.
Traders often monitor such inflows because tokens moved onto exchanges increase the pool of coins ready for trading. Besides, exchange deposits tend to precede higher spot activity during weak price structures. The timing adds fresh attention as SHIB trades near a key support band.
Price Holds Near Critical Support
SHIB changes hands around $0.00000601 after rebounding from the $0.00000580 to $0.00000590 zone. This area has acted as a short-term floor during recent sessions. Consequently, market participants now treat it as a decisive pivot for the next move.
A sustained break below this region would expose $0.00000550 as the next psychological level. Moreover, deeper support rests closer to $0.00000500 if selling intensifies. The current structure still reflects a broader downtrend from January highs near $0.00000900.
Resistance Caps Recovery Attempts
On the upside, SHIB faces immediate resistance near $0.00000640 where recent daily highs stalled. Additionally, stronger resistance stands around $0.00000700, which capped the mid-February rebound. Bulls need a steady move above that mark to reshape the short-term structure.
However, price action continues to compress between support and resistance. This range keeps volatility contained while traders assess the impact of the whale transfer.
Indicators Signal Stabilization
Momentum tools show early signs of stabilization without confirming a reversal. The Awesome Oscillator remains negative, yet shrinking red bars indicate fading bearish momentum. Significantly, the Money Flow Index hovers near 44, reflecting limited buying strength and modest outflows.
These readings align with consolidation rather than an immediate breakdown. Exchange inflows add uncertainty, but the chart still shows support holding for now.
