Shiba Inu is trading near a key support floor, and the numbers piling up on exchanges are giving traders reason to watch closely.
RSI Reading Points To A Market In Wait-And-See ModeThe Relative Strength Index for SHIB sits at 55 — technically neutral territory, where neither bulls nor bears have a clear edge. That number tells a story on its own.
Buyers aren’t charging in. Sellers aren’t panicking out. Both sides are watching. Meanwhile, trading volume has fallen 24% in 24 hours to roughly $120 million, which means the market is quieting down at exactly the wrong moment for SHIB holders hoping for a breakout.
Sitting against a total exchange reserve of about 80 trillion SHIB, 200 billion may look small. But with a supply this large, even small movements carry weight.
The pattern forming on the daily chart is one of distribution — meaning holders appear to be gradually offloading tokens rather than accumulating more.
Active addresses on the network did nudge up about 1% in the past day, a sign that users are still engaged. But that uptick in activity hasn’t translated into any upward move in price, which suggests demand simply isn’t keeping pace with the tokens being pushed onto the market.
Reports indicate the token remains in a consolidating phase with no clear catalyst visible to break it higher in the short term.
What happens next depends largely on whether demand picks up fast enough to absorb the growing exchange supply. For now, the balance is tilting in one direction.
Featured image from Unsplash, chart from TradingView
