Shiba Inu shows early recovery signals as selling pressure thins

Shiba Inu (SHIB), a memecoin created to rival Dogecoin (DOGE), is showing signs of stabilising after weeks of sideways trading. SHIB’s price recently broke above a key technical level on shorter timeframes, hinting that the long downtrend might be easing. Thinning supply creates a potential turning point One of the factors supporting this tentative rebound is the reduction of SHIB on exchanges. A significant amount of SHIB tokens has moved into personal wallets, reducing the supply available for immediate selling. This shift can make the market more sensitive to buying pressure, even if demand remains moderate. Commonly referred to as a potential “supply crunch,” where fewer coins are available to sell, this could help stabilise or lift prices. Technical analysis…