The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Sign in to access this content
Sign InShiba Inu (SHIB) is experiencing renewed selling pressure as approximately 157 billion tokens flowed back into exchange wallets over the last 24 hours, reversing a previous trend of supply contraction. The price is currently consolidating within a sideways range between $0.0000057 and $0.0000060. Despite the immediate pressure from exchange inflows, technical analysts point to a potential 85% price surge if a successful breakout from this range occurs. This consolidation phase follows a long period of volatility where SHIB remains 93% below its all-time high of $0.00008616. Investors are closely monitoring whether the market can absorb the increased exchange liquidity or if the anticipated technical breakout will trigger a fresh rally. The interplay between high exchange balances and key support levels will likely determine the token's short-term direction.