- SHIB trades at $0.00000486 with all four EMAs bearishly stacked as 25.24B tokens moved to exchanges on June 17
- 7-day burn activity is up 14.07% with a 1M token burn logged just 8 hours ago
- OI fell 3.62% to $33.62M while longs absorbed $39.46K in liquidations against just $11.35K on the short side
Shiba Inu trades at $0.00000486 on June 18, dropping 1.82% after CryptoQuant data flagged a net inflow of 25.24 billion SHIB to exchanges on June 17, a direct signal that holders moved tokens into position to sell following the recent relief bounce.
SHIB Daily Chart: Descending Trendline Has Not Broken and RSI Is Not Oversold Yet
The daily chart shows SHIB trapped below a steep descending trendline with all four EMAs overhead in bearish order: 20 at $0.00000503, 50 at $0.00000539, 100 at $0.00000581, and 200 at $0.00000683. Every recovery attempt since the May peak has been capped by this trendline and the June bounce from $0.00000430 was no different.
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RSI at 38.47 with the signal line at 33.56 is approaching oversold but has not crossed below 30 yet. The prior RSI trough near 20 in early June produced the bounce to $0.00000520. A second trip toward that reading would be needed to create a comparable setup. Until the descending trendline breaks on a daily close, the path of least resistance stays down.
- Resistance: $0.00000503 (20 EMA), $0.00000520 (recent bounce high)
- Support: $0.00000460, $0.00000430 (June cycle low)
25 Billion SHIB Moved to Exchanges on June 17
CryptoQuant recorded a net inflow of 25.24 billion SHIB to exchanges on June 17, one of the larger single-day exchange inflow readings in recent weeks. Exchange inflows at this scale after a price recovery almost always mean one thing: holders who bought lower are taking profit. SHIB fell back below $0.000005 the same session.
Search interest for SHIB sits at less than 1% of the 2021 peak level right now. That number reflects how far retail engagement has dropped and is one of the harder sentiment data points to argue against. No fresh demand is replacing the supply hitting exchanges.
Burn Activity Holds Steady but 7D Trend Is Declining
The 24-hour burn chart shows activity up 13.92% with tokens destroyed peaking near 1M between 09:00 and 21:00 UTC before tapering off. A wallet sent 1M SHIB to the dead address 8 hours ago and shib.shi4gud.eth contributed multiple burns totaling over 3.3M tokens across the past two days.
The 7-day view keeps perspective grounded. Burn activity peaked at nearly 5M tokens on June 12 and has been declining since, with a secondary peak of 3.7M on June 15 before dropping sharply through June 17 and June 18. Weekly burn is up 14.07% but the trend within that window is fading rather than building.
SHIB Derivatives: OI Drops as Longs Take the Heavier Hit
Volume rose 15.96% to $89.09M while open interest fell 3.62% to $33.62M. Volume rising with OI falling points to position closures accelerating.
The long/short ratio of 1.0338 leans slightly toward longs but the liquidation data tells a different story. Over 24 hours, $39.46K in long positions were liquidated against just $11.35K in shorts. Longs are absorbing more than three times the short-side pain right now.
Shiba Inu Price Prediction: Upside and Downside Levels for June 19
- Upside: A hold above $0.00000460 and a reversal in exchange inflows targets a retest of $0.00000503. Sustained daily burns above 1M tokens with exchange outflows replacing the current inflow trend would support that move.
- Downside: A daily close below $0.00000460 reopens the June cycle low at $0.00000430. With 25B tokens already sitting on exchanges ready to sell, the path of least resistance stays lower unless demand picks up.
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