Shiba Inu, a popular Ethereum-based meme coin with a large online community, is currently trading around $0.00000503. Recent on-chain data suggests that only a limited number of holders are moving SHIB tokens off centralized exchanges. The latest data recorded just 538 withdrawal transactions over a recent period, a notably low figure for such a widely held token.
Exchange activity and net flows
While the total count of withdrawals exceeds deposits, the overall amounts involved point in a different direction. Exchanges observed inflows of 247.06 billion SHIB, while outflows reached only 183.58 billion SHIB.
| Metric | Value |
|---|---|
| Total exchange inflow | 247.06 billion SHIB |
| Total exchange outflow | 183.58 billion SHIB |
| Net inflow | 63.49 billion SHIB |
| Exchange reserve | 87.11 trillion SHIB |
As a result, exchanges saw a net inflow of 63.49 billion SHIB. When more tokens move to exchanges than leave, this typically signals bearish sentiment, as those tokens are easily available for sale. During the last 24 hours, netflow decreased by 5.42%, indicating some relief in selling pressure. However, this trend has not fully reversed in favor of buyers.
Exchange reserves currently hold 87.11 trillion SHIB, up 0.07% in the latest daily reading. An increase in these reserves generally indicates that holders are not moving their assets to private wallets.
Price levels, technical signals, and market mood
Traders often shift their tokens off exchanges when expecting price appreciation in the medium or long term. The recent data shows this behavior is not common at present, suggesting caution among SHIB holders.
Shiba Inu’s price chart mirrors these on-chain trends. After declining from the $0.00000600 region in early October, SHIB found support just above $0.00000480. Although a small recovery followed, the move has been subdued, with low trading volume and a relative strength index (RSI) near 40. This technical reading suggests selling pressure still dominates the market.
For the price to demonstrate stronger momentum, SHIB must clear several resistance points. The orange moving average offers initial resistance at $0.00000526, followed by the blue line near $0.00000534 and then the black line at $0.00000560, which represents a key barrier. If buyers cannot maintain the $0.00000480 support level, the price could decline further toward $0.00000460.
A solid recovery for Shiba Inu would require an uptick in both withdrawal volumes and trading activity during price rallies. For now, the low number of withdrawal transactions points to continued uncertainty and cautious sentiment among token holders.
Although SHIB withdrawals outnumber deposits by transaction count, exchange inflow continues to surpass outflow in total volume, resulting in a net inflow that reflects bearish sentiment as more tokens remain on exchanges.
