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SHIB holders, read about THIS Shiba Inu ‘low’ before you make your move!

2min Read

SHIB’s exchange balance now sits at its lowest level since March 2022. 

Shiba Inu: Bearish sentiment rises, but should you worry?

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  • SHIB’s exchange reserve has dropped to a two-year low.
  • There is a rise in bearish sentiment in the SHIB market.

The total amount of Shiba Inu [SHIB] held across cryptocurrency exchanges has fallen to its lowest since March 2022, according to Glassnode’s data. 

Information from the on-chain data provider showed that SHIB’s exchange reserve has plummeted by 7% year-to-date. As of this writing, 147 trillion SHIB were held on exchange addresses.

Shiba Inu Exchange Balance

Source: Glassnode

Before you make your move

A steady decrease in an asset’s exchange reserve often signals a decline in selling pressure.

However, due to the general market decline witnessed in the past few weeks, there has been a surge in bearish activity in the SHIB market.

For example, the coin’s Awesome Oscillator has posted only red upward-facing bars since the 10th of March. This indicator measures an asset’s market trends and momentum.

When its bars are red and facing upwards, they indicate a decline in bullish momentum and that the short-term moving average is lower than the long-term moving average. 

Confirming the bearish trend, a reading from SHIB’s Moving Average Convergence Divergence (MACD) indicator showed that the coin’s MACD line crossed below its signal line on the 14th of March.

This suggested the re-emergence of the bears, as the meme coin’s value has since dropped by 33%, per Coingecko’s data. 

A downward intersection of an asset’s MACD line with its signal line indicates a loss of bullish momentum and a potential increase in selling pressure.

Traders often interpret this as a cue to exit long positions and occupy short ones.

Further, the growth in bearish trend has led to a decline in demand for SHIB. AMBCrypto found that the coin’s Money Flow Index (MFI) trended downward and was under 50 at the time of writing.

This indicated a rise in the meme coin’s selling pressure.

Additionally, its Chaikin Money Flow (CMF), which measures the flow of money in and out of the SHIB market, was less than zero.

A SHIB value below zero is a sign of market weakness, as it indicates liquidity exit.

SHIB D1 TradingView Chart

Source: SHIB/USDT on TradingView

How much are 1,10,100 SHIBs worth today?

In SHIB’s Futures market, its Open Interest has declined by 36% since the 6th of March, according to Coinglass’ data.

This indicated that market participants have exited their positions without opening new ones due to the rise in bearish sentiments. 


Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.
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