Shiba Inu jumped almost 9% on September 21, pushing above its 200-day average for the first time in months. The token touched $0.00000608 before easing back to around $0.00000596, while exchange data shows only a modest net inflow of tokens onto trading platforms.
Shiba Inu broke above a level that had capped its recovery for months. The token moved 8.56% higher from around $0.00000550, climbing past its 200-day average near $0.00000562. That average had previously acted as a ceiling on price.
SHIB clears a major barrier
Trading activity increased as the price moved toward the $0.00000600 level. Moving above the 200-day average suggests market conditions are improving, but the move still needs confirmation: SHIB must hold above that level once the initial excitement fades.
The next breakout target sits at $0.00000608, the day's high. A move beyond that level could bring the August peak near $0.00000620 back into view.
If buyers lose control, the $0.00000562 level would become the first area of resistance turned support. The $0.00000545 to $0.00000550 range would be the next level to watch.
Exchange flows temper the optimism
Exchange activity paints a more cautious picture. Santiment data showed about 111.23 billion SHIB entered exchanges, while around 87.75 billion left them, leaving a net inflow of about 23.48 billion tokens.
That inflow was small compared with past spikes on the chart. It does not point to heavy selling pressure, but it suggests some holders may be preparing to take profits following the recent gains.
The breakout remains intact for now, but the next few trading sessions matter. If SHIB holds above $0.00000562, the recovery would strengthen. If it slips below that level, the move could turn into another failed attempt.
Source: AMBCrypto
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