SHIB is seeing some interesting on-chain activity right now.

More than 64 billion SHIB reportedly moved across exchanges within 24 hours, while exchange reserves and inflows also increased.

From a market perspective, that's worth paying attention to because large exchange inflows often raise concerns about potential selling pressure.

At the same time, the technical picture remains mixed,

📉 SHIB has broken below important support levels and moving averages.

📊 RSI is approaching oversold territory, which sometimes attracts bargain hunters

The key area I'm watching is around $0.00001100–$0.00001150. A move back above that range could improve sentiment significantly.

Been tracking the price action on BingX and it feels like SHIB is approaching one of those moments where bulls and bears are about to test each other's conviction.

Do you think this is accumulation territory or is more downside still ahead for SHIB?

$SHIB