Over the past 24 hours, $SHIB saw 20.0745 billion tokens in negative net flow on all major exchanges. If whales move their funds to exchanges en masse, this usually means short-term selling pressure.
Large holders are withdrawing $SHIB
Shiba Inu exchange reserves lost 0.02% with the dollar value of those reserves slipping even more, by 0.47%.
The pain point is the rapid decline in early November, as Shiba Inu continued falling after a short-lived rally.
TradingView data shows that $SHIB price has recently lost an important support level at $0.00000480. $0.00000410 might be the next point of a further decline if support is invalidated.
Shiba Inu price is currently trading at $0.00000447, moving sideways around the local bottom. The local support sits at around the $0.00000440–$0.00000442 range.
A break above $0.00000480 would put the price in recovery mode, opening the way to the $0.00000540–$0.00000550 zone tested in October.
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