Amidst the hype and inflows of meme-related cryptocurrencies

The price of Shiba Inu (SHIB) increased by 3.3% over the past eighteen hours, driven by general market optimism, technical dynamics, and specific inflows related to SHIB, as well as growing interest in meme coins and SHIB on social media.
This rise appears slightly positive in an overall bullish market, without any significant announcement as a primary cause.
Key factors include the total market capitalization of cryptocurrencies increasing by 1.67% to reach $2.71 trillion, the market cap of altcoins rising by 1.51% to $1.07 trillion, and Bitcoin’s dominance remaining steady at around 60.6%.
Regarding SHIB specifically, there are indications of a transition from a prolonged downtrend to a compressed structure that may be ready to break out, supported by changes in data flows on the blockchain and trading platforms.
A detailed analysis showed that approximately 552 billion SHIB tokens have left trading platforms in recent months, with hundreds of billions more withdrawn, and a sharp decline in trading inflows, indicating a decrease in the number of tokens sent to these platforms for sale.
The same analysis pointed out that SHIB’s price is forming higher lows and contracting below the 100-day exponential moving average, and that the resistance level of the 100-day EMA is losing significance due to repeated tests, which usually precedes a price breakout as trapped sellers absorb and supply diminishes.
A subsequent market report, published overnight, described SHIB as beginning to recover, again noting a triangle pattern.