Roughly 370 billion SHIB was transferred over the past 24 hours to deposit addresses linked to Binance and Bitget, putting Shiba Inu back in focus. Arkham Intelligence tracked the on-chain movement, and at current prices the transfers were worth several million dollars. Traders usually watch this type of exchange inflow closely because it increases the amount of tokens readily available for trading, a detail that tends to matter more when price structure is already weak.
SHIB is changing hands near $0.00000601 after bouncing from the $0.00000580 to $0.00000590 area. That zone has acted as a short-term floor in recent sessions, so the market is treating it as the key pivot for the next move. If price breaks below it and stays there, the next psychological level comes in near $0.00000550. A deeper layer of support sits closer to $0.00000500 if selling pressure builds.
Exchange deposits raise focus on tradable supply
A transfer to exchange wallets does not confirm immediate selling, but it does lift exchange balances and expands the pool of SHIB that can be traded in the spot market on short notice. That matters because SHIB is still trading within a broader decline from January highs near $0.00000900. With price already sitting close to support, the timing of a whale-sized deposit draws extra attention from market participants watching for any change in near-term supply conditions.
$0.00000640 and $0.00000700 remain the upside barriers
On the way up, SHIB faces immediate resistance around $0.00000640, where recent daily highs stalled. Above that, a stronger barrier stands near $0.00000700, the same area that capped the rebound seen in mid-February. Bulls would need a steady move above that level to alter the short-term structure. For now, price remains compressed between support and resistance, keeping the range tight while traders gauge the effect of the whale transfer.
Momentum readings show stabilization, not reversal
Technical indicators point to a market that is stabilizing rather than turning higher. The Awesome Oscillator remains below zero, yet its shrinking red bars suggest bearish momentum is fading. The Money Flow Index is hovering near 44, a reading that reflects limited buying interest and modest capital outflows across sessions. Taken together, those signals fit a consolidation phase more than an immediate breakdown, though the exchange inflow keeps short-term pressure in view.