SHIB Nears Major Breakout Level After 60% Spike in Spot Market Flows

SHIB spot market flows surged 60%, signaling stronger buyer accumulation despite weak price action. Price faces key resistance at $0.00000440 before any confirmed bullish breakout. Rising exchange inflows could increase selling pressure and limit near-term gains. Shiba Inu has returned to the spotlight after fresh buying activity caught traders' attention. Weekly spot flows climbed by nearly 60%, suggesting stronger interest from investors. Such growth often reflects genuine market demand instead of leveraged speculation. Even with stronger accumulation, SHIB continues facing heavy technical resistance. Buyers now watch closely for signs of a breakout, while sellers defend several important price levels across the daily chart. https://twitter.com/i/status/2077732123096608995 Spot Market Demand Builds Despite Weak Price Action Recent market data shows buyers continue adding SHIB during recent weakness. Positive net spot inflows appeared across several time frames. The past hour recorded roughly $43,400 in net inflows. Four-hour data reached about $77,100. Twelve-hour figures climbed close to $77,900. SHIB currently trades around $0.00000417. Those inflows suggest investors continue absorbing available supply. Such activity often reflects stronger conviction from buyers. Spot purchases usually represent direct ownership instead of leveraged positions. That trend can strengthen market confidence over time. Demand has remained steady despite continued price pressure. Buyers have outpaced available supply across several recent sessions. Such behavior often appears during accumulation phases. Long-term investors frequently build positions before stronger market moves develop. Even so, price action remains cautious. Strong buying alone rarely guarantees an immediate rally. Technical barriers still limit upside momentum. Market participants continue waiting for confirmation before increasing exposure. Technical Barriers Still Challenge SHIB Bulls Daily chart signals still favor caution despite stronger spot demand. SHIB trades below several important exponential moving averages. The 20-day EMA sits near $0.00000440. That level serves as immediate resistance for buyers. Another barrier appears near the 50-day EMA around $0.00000464. Above that level, resistance strengthens near the 100-day EMA at $0.00000518. The 200-day EMA around $0.00000623 creates another significant obstacle. Those levels continue supporting the broader bearish structure. Recent trading pushed SHIB back toward the lower end of a familiar range. Buyers failed to maintain momentum following June's rebound. Momentum indicators also remain weak. The Relative Strength Index now sits near 35. Such readings approach oversold territory. Selling pressure may begin slowing, but buyers still need stronger confirmation. Exchange data presents another important piece of the puzzle. Overall exchange netflow declined by 0.18%. Exchange reserves increased only 0.03%. Those figures suggest limited movement across trading platforms. However, another metric deserves attention. Seven-day average exchange inflows climbed by 8.25%. Rising deposits onto exchanges sometimes signal higher selling activity ahead. Additional selling could offset stronger spot demand if that trend continues. Current market conditions leave SHIB near an important decision point. Rising spot flows highlight improving investor interest.