The spot market for Shiba Inu (SHIB) is once again facing a decrease in demand: all seven significant timeframes demonstrate negative net flows. This occurs amid the asset's struggles to overcome the $0.00000500 mark, putting the token's value in a challenging technical position.
Net flow data shows substantial currency outflows across various time periods. Over 15 minutes, the net flow was approximately -$14,540, over 30 minutes -$26,680, and over an hour -$63,710. After four hours, this figure reaches -$134,800, over eight hours -$168,720, and over twelve hours approximately -$250,040. This indicates that sellers continue to withdraw more funds than buyers bring in during the specified time intervals. However, it is important to note that a negative net flow on the spot does not necessarily mean that SHIB is doomed to fall. It is not an exact forecast of future prices but a reflection of the balance between buying and selling on tracked spot markets, depending on the methodology.
Currently, SHIB is trading at around $0.00000507, positioned between several short-term and medium-term moving averages grouped in the $0.00000495–$0.00000515 range. The first significant resistance level will be the $0.00000515–$0.00000520 range, where the token struggles to maintain its momentum. Stronger resistance is noted between $0.00000540 and $0.00000550, followed by a declining long-term moving average around $0.00000565. If the price falls below $0.00000490, it will open the path to the $0.00000460–$0.00000470 levels and significantly weaken the asset's technical structure. The Relative Strength Index (RSI) is currently close to the neutral mark of 50, indicating no significant pressure from either side. At the moment, SHIB is experiencing a lack of buying interest, complicating attempts to hold at the moving average levels. Without an improvement in spot flows, another attempt to break through the moving average cluster is unlikely to evolve into a sustainable recovery.
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