-111.67 Billion Shiba Inu in 24 Hours: Price Receives Unexpected Support

Despite a generally weak market structure, Shiba Inu is beginning to stabilize, and recent on-chain data helps explain why. Exchange netflows decreased by about 82.67 billion SHIB over the past day, suggesting a substantial withdrawal of tokens from trading platforms. This kind of movement usually indicates less immediate selling pressure, and in the case of SHIB, it seems to be offering short-term price support.

Shiba Inu enters downward trend

SHIB is still in a more general downward trend on the chart, trading below the 50, 100 and 200 EMAs, among other significant moving averages. However, the asset is currently creating a modest ascending support trendline, in contrast to earlier stages of the decline. The price action is narrowing into a more constrained range, indicating a temporary weakening of the bearish momentum.

This change is further supported by the on-chain metrics. The recent net outflow indicates that some holders are transferring assets into private wallets rather than getting ready to sell, even though overall exchange reserves are still high.

Instead of continuing an aggressive downward trend right away, this behavior frequently precedes times of consolidation or a gradual recovery.

Outflows are not that large

At the same time, there are mixed signals. The mean exchange outflow has increased dramatically, suggesting that whales may be withdrawing bigger transactions. However, this does not always indicate bullish intent; repositioning rather than accumulation may be the cause. 

The most important lesson for investors is that although SHIB is no longer in a free fall, a confirmed recovery is still a long way off. To create any significant bullish momentum, the price must break above nearby resistance levels — especially the cluster around short-term moving averages — and the current support that is forming around the recent lows must hold. 

SHIB may try a slow recovery if the outflow trend persists and selling pressure is kept in check. However, if current support is not maintained, this stabilization phase will probably be invalidated, and the asset will likely resume its downward trend.