TLDR:
- The Shiba Inu token managed to reclaim the monthly support level of $0.00000629 following the low reached on February 6.
- Whale money flow (CMF) remains in negative territory, suggesting a lack of active institutional accumulation.
- Futures markets show a shift in sentiment with a funding rate that is turning positive again.
Tuesday’s session was decisive for the Shiba Inu ecosystem, as the token held its key support against the downtrend after recovering the monthly level of $0.00000629. Despite this breathing room, the currency still faces difficulties in eliminating the “fifth zero,” primarily because large investors—or whales—are not aggressively injecting capital into this price range.
Currently, the Chaikin Money Flow (CMF) indicator reflects slight negativity, warning of a possible bearish divergence if the $0.00000700 resistance is not reclaimed soon. However, since the cycle low recorded on February 6 at $0.00000500, the asset has rallied 31%, demonstrating resilience within the memecoin segment.
Strategic movements and derivative market sentiment
Beyond price action, a “supply crunch” phenomenon is being observed as trillions of SHIB tokens have been withdrawn from exchanges into self-custody wallets. This behavior by the “SHIB Army” suggests long-term conviction, reducing the selling pressure available on mass trading platforms and restoring optimism among holders.
In the derivatives markets, data from CoinGlass reveals that Open Interest (OI) and the funding rate have returned to green territory, indicating that short sellers are beginning to lose ground to bullish positions. On platforms like Binance, the long-to-short position ratio has reached an optimistic 1.71 daily, confirming a shift in the risk appetite of retail traders.
In summary, the future of SHIB will depend on its ability to transform this support into a launchpad for higher levels. While the community maintains its asset withdrawal strategy, analysts’ eyes remain fixed on whale activity, as their participation will be the definitive catalyst to break the current downtrend.
