64 Billion Shiba Inu (SHIB) in 24 Hours: What Are We Expecting From Price?

Shiba Inu on-chain data revealed a substantial increase in exchange-related activity. More than 64 billion SHIB tokens moved across exchanges within the last 24 hours, raising questions about whether the meme coin is preparing for a significant move or facing additional downside pressure.

Shiba Inu makes a quick return

The spike in exchange flows comes at a critical moment for SHIB. According to recent metrics, exchange inflows have increased considerably, while exchange reserves have also edged higher. Historically, rising exchange balances can indicate that more tokens are becoming available for trading, which often translates into elevated volatility and, in some cases, increased selling pressure.

The timing is particularly important because SHIB is already trading in a technically vulnerable position. The asset recently broke below a rising support pattern that had been developing throughout the spring recovery period. As a result, the price has slipped beneath several key moving averages, reinforcing the broader bearish trend that has dominated SHIB for most of the past year.

Despite the weakness, not everything points toward further losses. The Relative Strength Index (RSI) has fallen close to oversold territory, suggesting that bearish momentum may be approaching exhaustion. Previous declines of similar magnitude have occasionally been followed by relief rallies, as traders step in to buy at heavily discounted prices.

Key level to watch here

The most important level to watch remains the area around $0.00001100-$0.00001150. Reclaiming this zone would be the first indication that buyers are regaining control and could open the door for a broader recovery attempt. Until then, the market remains vulnerable to additional downside pressure.

From an on-chain perspective, the surge in exchange activity does not automatically signal a selloff. Large transfers can reflect repositioning by major holders, liquidity movements, or preparation for future trading activity. However, combined with the current technical weakness, the data suggests that caution remains warranted.

For now, SHIB finds itself at a decisive crossroads. The next few trading sessions will likely determine whether the recent influx of billions of tokens marks the beginning of renewed accumulation or another chapter in the ongoing correction.