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Shiba Inu is actively moving from the exchanges, and this time, the data on the chain supports what the charts have indicated for weeks: a constant decrease in liquidity inflows and investor confidence.
In just the last day, Shiba Inu reported a -272.9 billion SHIB net outflow in all exchanges, according to CryptoQuant. Although the price action suggests otherwise, this figure technically shows the tokens moving off the exchanges, which is often interpreted as a bullish sign.
The price of Shiba Inu
The price of SHIB is still on the decline despite what may be accumulation, and is currently at $0.0000090, its lowest point since the beginning of 2024. The discrepancy between outflows and price indicates that the redistribution of holders, or consolidation of dormant wallets, may be the cause of these movements rather than the purchase of conviction. To put it another way, the whales could be simply transferring the asset for storage or coverage of the general weakness of the market instead of accumulating.
Technically speaking, the SHIB/USDT chart is still very pessimistic. The asset has now confirmed another downward continuation from breaking below its short-term ascending support line. As a long-term resistance barrier, the 200-day moving average maintains a lower slope, above current price levels. RSI and other momentum indicators are near 33, indicating low demand and the potential for further selling before any significant rebound.
Capital turnover
At this point, Shiba InuThe inability to expand despite the significant exchange flow highlights a crucial fact: the flows by themselves do not indicate bullishness in the absence of a proportional increase in demand or capital rotation in the asset.
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With $0.0000080 now emerging as the next crucial level to watch, the token may continue to be stuck in its gradual decline unless overall market liquidity improves or SHIB finds a new narrative catalyst. Currently, sentiment regarding SHIB is still precarious, and a recovery looks increasingly unlikely in the near future in the absence of improved fundamentals or speculative interest.
