The post 504,586,239,357 Shiba Inu (SHIB) Added to Exchange in 24 Hours: Sell-Off Incoming? appeared on BitcoinEthereumNews.com. More liquidity? Shiba Inu volatility risks Over 504.5 billion Shiba Inu tokens have been added to exchange wallets in the last day, which is a huge inflow that could be very problematic for the asset’s short-term prospects. The massive volume increase indicates that there is increasing movement among traders and large holders, with many appearing to be positioning for possible liquidation rather than accumulation. More liquidity? Such increases in exchange reserves have historically come before significant sell-offs, and when liquidity is unable to absorb the abrupt supply pressure, prices frequently fall precipitously. SHIB/USDT Chart by TradingView SHIB’s chart continues to be brittle from a technical standpoint. The token is currently perched just above its main ascending support zone at around $0.0000121. The market is still stuck in a long-term symmetrical triangle pattern capped by the 200-day EMA, and restrained by resistance levels at $0.000135 despite several attempts to recover. Every rally attempt was quickly sold into, indicating that significant holders have been distributing the money consistently. These indicators’ convergence – increasing exchange inflows and a technically constrained price structure – creates a worrying image. Deeper declines toward $0.0000115 or even $0.0000100 could be possible if selling pressure increases and SHIB easily breaks below its $0.0000120 support. The fact that the RSI is still hovering around 45 suggests that the market has not yet reached its bearish potential, because more downside is possible before oversold conditions are reached. Shiba Inu volatility risks The volume of trades also supports this increasing risk of volatility. Since the recent surge in activity has not been accompanied by a rise in buying power, the majority of the action is probably exchange-driven movement that may be getting ready for large-scale sell execution.  Essentially, adding more than half a trillion SHIB to exchanges creates the conditions for… The post 504,586,239,357 Shiba Inu (SHIB) Added to Exchange in 24 Hours: Sell-Off Incoming? appeared on BitcoinEthereumNews.com. More liquidity? Shiba Inu volatility risks Over 504.5 billion Shiba Inu tokens have been added to exchange wallets in the last day, which is a huge inflow that could be very problematic for the asset’s short-term prospects. The massive volume increase indicates that there is increasing movement among traders and large holders, with many appearing to be positioning for possible liquidation rather than accumulation. More liquidity? Such increases in exchange reserves have historically come before significant sell-offs, and when liquidity is unable to absorb the abrupt supply pressure, prices frequently fall precipitously. SHIB/USDT Chart by TradingView SHIB’s chart continues to be brittle from a technical standpoint. The token is currently perched just above its main ascending support zone at around $0.0000121. The market is still stuck in a long-term symmetrical triangle pattern capped by the 200-day EMA, and restrained by resistance levels at $0.000135 despite several attempts to recover. Every rally attempt was quickly sold into, indicating that significant holders have been distributing the money consistently. These indicators’ convergence – increasing exchange inflows and a technically constrained price structure – creates a worrying image. Deeper declines toward $0.0000115 or even $0.0000100 could be possible if selling pressure increases and SHIB easily breaks below its $0.0000120 support. The fact that the RSI is still hovering around 45 suggests that the market has not yet reached its bearish potential, because more downside is possible before oversold conditions are reached. Shiba Inu volatility risks The volume of trades also supports this increasing risk of volatility. Since the recent surge in activity has not been accompanied by a rise in buying power, the majority of the action is probably exchange-driven movement that may be getting ready for large-scale sell execution.  Essentially, adding more than half a trillion SHIB to exchanges creates the conditions for…