Shiba Inu futures contracts experienced significant capital withdrawal over the past day. Data from CoinGlass reveals that 1.24 trillion SHIB tokens, valued at $10.50 million, exited futures positions during this period. This outflow exceeded the $8.8 million in inflows, creating a net negative flow of $1.7 million.
The withdrawal pattern suggests traders are pulling back from leveraged positions in the meme cryptocurrency. Such movements typically indicate reduced confidence in short-term price action or profit-taking after recent volatility.
Price Action Shows Recovery Attempt
SHIB's price climbed 3.71% in the past 24 hours, reaching $0.00000853 at press time. This represents a rebound from Friday's low of $0.00000815, which marked the bottom of a two-day decline. Trading volume increased by 4.39% to $94.53 million, suggesting sustained market interest despite the futures outflows.
The token faces immediate resistance at $0.00001017. A breakthrough at this level could push prices toward the 50-day moving average at $0.00001084. Technical analysts point to $0.000015 as a potential long-term target if bullish momentum builds. However, recent technical indicators present a mixed picture for traders.
Technical Signals Flash Warning Signs
A death cross formation appeared on the hourly chart as the 50-hour moving average crossed below the 20-hour moving average. This marks another such occurrence in 2026 and generally signals short-term bearish pressure. The pattern often precedes price consolidation or further declines.
Support levels require close monitoring in the coming sessions. The daily 50-period moving average at $0.0000081 serves as crucial support. Maintaining prices above this threshold remains essential for preserving upward momentum. A failure to hold could send SHIB toward the next support zone at $0.00000732.
The Relative Strength Index and other momentum indicators point toward potential range-bound trading. Neither buyers nor sellers have established clear dominance. This equilibrium could persist until a significant catalyst emerges to shift market sentiment.
