Shiba Inu's Exchange Activity and Price Action Analysis

Shiba Inu's price action has been trending upward in recent days, but the cryptocurrency is still struggling to break above its 200 EMA. According to data from TradingView, SHIB/USDT chart shows a gradual ascending structure, making higher lows without breaking the 100 EMA just yet.

The exchange reserve levels have continued to rise, indicating increased market activity and possibly higher volatility in the future. Over the past day, the Exchange Reserve increased by about 0.17%, while SHIB exchange outflows and inflows both increased.

Despite this, price action is still stuck below the 200 EMA, a significant long-term resistance barrier. Traders will likely be hesitant to declare a complete trend reversal until SHIB firmly breaks above that level.