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SHIB drops below key support as selling pressure and exchange inflows increase sharply.
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Technical indicators remain bearish with strong resistance from multiple moving averages overhead.
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Weak demand, fading burns, and long liquidations signal continued downside risk.
Shiba Inu slipped back under a crucial price level after fresh selling pressure hit the market. The token now trades at 0.00000486 dollars following a 1.82% daily decline. On-chain data shows a heavy wave of tokens moving onto exchanges, signaling profit-taking after a short recovery attempt. Technical indicators also point toward continued weakness, with trend resistance still intact. Market sentiment remains fragile as sellers dominate short-term price action and demand fails to absorb supply.
After recovering from a recent selloff, $SHIB is testing a critical resistance zone at $0.0000050–$0.0000052, though key moving averages remain bearish and support at $0.0000045 stays vital.https://t.co/FR2XhhYJgB
— 36crypto (@36Crypto2) June 18, 2026
Exchange Inflows Signal Growing Sell Pressure
SHIB faced renewed pressure after 25.24 billion tokens moved onto exchanges on June 17. CryptoQuant data highlighted this spike clearly. Such inflows usually reflect holders preparing to exit positions after short-term gains. Price reacted quickly and dropped below 0.000005 dollars during the same session. Market structure remains heavily bearish on the daily chart.
A strong descending trendline continues to reject every recovery attempt. Multiple exponential moving averages sit above current price levels. The 20 EMA stands at 0.00000503 dollars. The 50 EMA follows at 0.00000539 dollars. The 100 EMA sits higher at 0.00000581 dollars. The 200 EMA remains far above at 0.00000683 dollars. Each recovery since the May peak has failed at resistance. The June bounce from 0.00000430 dollars also lost momentum quickly.
Buyers struggle to reclaim any key technical level. Price action continues respecting the downward structure. Momentum indicators also reflect hesitation. RSI sits at 38.47 with a signal line at 33.56. Conditions approach oversold territory but remain above extreme levels. Earlier June lows near RSI 20 triggered a short rebound. A repeat of that zone may be needed for another recovery attempt.
Weak Demand and Derivatives Pressure Add More Weight
Broader market behavior shows fading interest from retail participants. Search interest now sits below 1 percent of 2021 peak levels. That decline signals reduced attention and weaker inflows from new buyers. Without fresh demand, selling pressure continues dominating order books. Burn activity shows mixed signals across short and medium timelines.
Daily burns increased by 13.92 percent. Nearly one million tokens moved to dead wallets during peak hours. Some wallets contributed additional burns totaling over three million tokens. However, the broader seven-day trend tells a different story. Weekly burn activity peaked near five million tokens on June 12. Momentum then weakened through June 17 and June 18.
A secondary spike near 3.7 million tokens also faded quickly. Overall weekly burn growth stands at 14.07 percent, but momentum appears inconsistent. Derivatives data adds further caution. Trading volume increased by 15.96 percent to 89.09 million dollars. Open interest dropped by 3.62 percent to 33.62 million dollars. That combination suggests position closures rather than new inflows.
