Okay, so it looks like Shiba Inu is finally settling down a bit, which is good. But looking at the data, I’m seeing a lot of us – myself included, probably – are still actively moving our SHIB around on exchanges. There’s been a huge spike in activity over the last day, with a lot more SHIB leaving exchanges than usual. It suggests people are either preparing to hold for the long term or are still actively trading, trying to time the market.
Shiba Inu is back to ascension
The market is trying to bounce back after a period of decline, as the chart shows. SHIB has generally been falling in value for most of the past year, consistently staying below key price levels and areas where it previously struggled to rise.
The price has started to slowly rise, attempting to move back above the 50-day Exponential Moving Average. It’s been making higher lows while still staying above the 100-day Exponential Moving Average.
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Right now, trading activity is the key thing to watch. Recent data shows that the amount of SHIB held on exchanges is going up, with more SHIB being both deposited to and withdrawn from those exchanges.
The amount of SHIB held on centralized exchanges rose slightly, around 0.17%, in the last day. This suggests increased trading and could mean the market might become more volatile soon.
Over the past week, the average amount of cryptocurrency entering exchanges decreased by 15%, but the average amount leaving exchanges dropped by a much larger margin – over 62%. This suggests that large cryptocurrency holders may be slowing down their trading activity after a period of heavy movement. Despite this, more cryptocurrency is still entering exchanges than leaving them overall.
Approximately 427.9 billion SHIB tokens entered exchanges, while 285.7 billion left. This difference is noteworthy because a large number of tokens entering exchanges often suggests potential selling activity, especially when the market is unstable.
Price action stays below 200 EMA
As a crypto investor, I’m still watching SHIB closely, and honestly, the price is struggling to get past the 200-day EMA. That level feels like a major ceiling right now, and I don’t think most traders will confidently say the trend has reversed until it breaks through it. I’m expecting things to get a bit more unpredictable and volatile around these prices, so I’m preparing for some swings.
Even though trading volume shows people are still actively buying and selling, the chart suggests SHIB has stopped plummeting and may be stabilizing.
If the broader crypto market continues to do well, SHIB might continue to rise and potentially break out of its current trading range. However, increasing amounts of SHIB being held on exchanges could lead to a price drop if investors start to sell, especially if overall market confidence weakens.
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2026-05-09 11:18