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$SHIB The surge in SHIB outflows, what does this signal mean?
Recently, a news story caught attention: over 167.9 billion SHIB have been withdrawn from exchanges. This data is quite interesting and worth a close look. What does an outflow from exchanges usually indicate? Holders are transferring assets, possibly stocking up, moving to wallets, or simply planning to hold long-term.
Currently, SHIB's price is around $0.000007, and the market shows a clear oscillating pattern. The RSI indicator reads 46.5, indicating it hasn't entered overbought territory, and market sentiment is cautious. Support is at $0.000006, with resistance overhead at $0.000007.
From a technical perspective, if the price can stabilize above $0.000007 and successfully break through, the next upward target could be $0.000008. At this point, it all depends on the overall market strength—retail participation, large investors' intentions, and fundamental support.
Here's my personal trading approach: I have already built about 30% of my position, with a stop-loss set at the support level of $0.000006. If the market truly breaks above the resistance, I plan to add another 20%, bringing the total position to 50%. This pace might sound a bit aggressive, but at critical market junctures, it's mainly about trusting the community's consensus.
What does everyone think about this SHIB trend? Feel free to discuss.