Shiba Inu is experiencing renewed selling pressure after almost 100 billion SHIB entered centralized exchanges over the past 24 hours. New on-chain data shows that exchange inflows reached about 96 billion SHIB, while outflows stood at approximately 112 billion SHIB during the same period.
Technical setbacks for SHIB
Shiba Inu, an Ethereum-based meme coin with a loyal community, continues to struggle below major resistance levels. The asset is trading near $0.0000042, close to multi-month lows, reflecting a weak market structure that has persisted for several months.
Current technical analysis reveals that the 50-day, 100-day, and 200-day exponential moving averages (EMAs) are all positioned above SHIB’s current price, indicating ongoing bearish momentum. After forming a rising wedge pattern earlier in the year, the token broke lower and has yet to confirm a meaningful reversal.
Attempts to recover since then have failed, with each bounce capped by lower highs. The bearish outlook intensified when sellers effectively absorbed upward moves in June and July, prompting further caution among investors.
On-chain activity raises concerns
Large volumes of SHIB moving onto exchanges often precede increased selling activity or shifting investor strategies. When more tokens are deposited into exchange wallets, the available supply for trading rises and applies further pressure to prices if market demand remains subdued.
Despite the elevated inflows, overall netflows have stayed negative as outflows modestly surpassed inflows. However, analysts note that a sequence of daily inflows near the 100 billion SHIB mark signals that holders may still be preparing to sell or adjust their positions.
Momentum indicators also underscore market weakness. Trading volumes are lower compared to earlier in the cycle, and the relative strength index (RSI) remains below the neutral 50 threshold, pointing to limited buying conviction from bulls.
| Indicator | Current Status |
|---|---|
| 24h Exchange Inflows | 96 billion SHIB |
| 24h Exchange Outflows | 112 billion SHIB |
| Current Price | $0.0000042 |
| Below 50-day EMA? | Yes |
| RSI | Below 50 |
Mini dictionary: Exponential Moving Average (EMA) — A type of moving average that gives more weight to recent prices in an asset’s price data, often used to identify trend direction and support or resistance on a trading chart.
Market sentiments and investor behavior
So far, SHIB has not seen strong signs of accumulation or renewed investor confidence. Unlike previous cycles when rallies were supported by robust demand, the current market has stabilized with less enthusiasm from both retail and institutional buyers.
Nevertheless, not every exchange inflow signals imminent selling. Some participants may be transferring SHIB for portfolio adjustments, liquidity needs, or arbitrage opportunities rather than immediate liquidation.
Exchange inflows often reflect holders’ intentions to reposition, but a lack of panic-driven withdrawals and stable total exchange reserves suggest that the market is not experiencing widespread fear at this stage.
Still, persistent negative momentum and large inflows continue to weigh on the outlook, leaving sellers in control as SHIB trades at its lowest levels in several months.
