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Shiba Inu withdrawals are back on Binance, according to an announcement from the exchange's co-founder, Yi He. The update reveals that withdrawal services have been re-enabled for 34 additional Ethereum-based assets and 22 Solana tokens, including meme coins like Shiba Inu.
Binance Restores SHIB and Other Crypto Withdrawals
According to the announcement shared by Binance co-founder Yi He, withdrawals have been restored for a substantial number of cryptocurrencies on Ethereum and Solana networks.
Withdrawals enabled for: Shiba Inu (SHIB), Ethena (ENA), Starknet (STRK), Pump.fun (PUMP), Jupiter (JUP), Bonk (BONK), dogwifhat (WIF), Pudgy Penguins (PENGU), Official Trump (TRUMP), Raydium (RAY), Jito (JTO), and Render (RENDER).
Users will now be able to move their assets to any external wallets. For SHIB holders, it removes an operational restriction, although the announcement does not establish whether the interruption affected trading activity or the token's market price.
Enabled withdrawals remove an operational restriction, even though token's trading activity and price performance haven't been directly affected by the limitation (apart from the on-chain performance).
Shiba Inu Price Faces Bearish Pressure
With withdrawals disabled, Shiba Inu continued to face selling pressure.
According to the daily SHIB/USDT chart on Binance, the meme cryptocurrency was trading around $0.00000458 on November 3, following a sustained decline from its October highs.
SHIB is trading below several major moving averages, indicating that bearish momentum continues to dominate. SHIB has also broken below an ascending support trendline.
Buying interest is certainly becoming weaker, with multiple trendlines being broken and the $0.00000450 area emerging as an immediate support zone.
A further decline could expose SHIB to lower support around $0.00000430 and $0.00000410.
Sentiment might flip in case of reclaiming the $0.00000500–$0.00000520 region which represents the short-terms technical improvement zone.
While Binance's withdrawal restoration is a positive operational development for Shiba Inu, SHIB's price trajectory remains bearish and is unlikely to bounce purely on the news about the opened withdrawals on the biggest exchange on the market.