Shiba Inu (SHIB) fell to $0.00000486 on June 18, registering a 1.82% decline after CryptoQuant reported a net inflow of 25.24 billion SHIB tokens to exchanges on June 17.
Technical Overview
Shiba Inu remains trapped beneath a steep descending trendline on the daily chart, while all four exponential moving averages sit above price in bearish order: the 20‑day EMA at $0.00000503, the 50‑day EMA at $0.00000539, the 100‑day EMA at $0.00000581, and the 200‑day EMA at $0.00000683. RSI hovers at 38.47 with the signal line at 33.56, edging toward oversold territory but still above the 30 threshold. The prior RSI trough near 20 in early June sparked a brief bounce to $0.00000520, suggesting that another dip toward that level could trigger a similar recovery.
Exchange Inflows
CryptoQuant logged a net movement of 25.24 billion SHIB tokens into exchange wallets on June 17, marking one of the largest single‑day inflows observed in recent weeks. Such a surge typically signals that holders are positioning assets for potential sell‑offs, especially after the modest rebound observed in early June. The influx reinforces bearish sentiment and raises caution among investors monitoring on‑chain activity.
Market Outlook
Resistance clusters around the 20‑day EMA at $0.00000503 and the recent high of $0.00000520, while support zones sit near $0.00000460 and the June low of $0.00000430. Until the descending trendline breaks on a daily close, the path of least resistance points downward, keeping pressure on the price. Investors should watch for a decisive move beyond these thresholds to gauge whether SHIB can reverse its current trajectory.