Shiba Inu Sees 337 Billion Token Net Outflow in a Single Day, Market Still in Bottoming Phase
In the past 24 hours, Shiba Inu (SHIB) recorded a substantial net outflow of 337 billion tokens from exchanges, significantly reducing the tradable supply on these platforms. This large-scale withdrawal occurred against a backdrop of sustained price pressure, reflecting investors' preference to transfer assets to non-exchange wallets rather than immediately selling them. Such behavior is often seen as a signal of increased long-term holding intentions, helping to weaken short-term selling pressure.
Despite the decrease in exchange reserves, the SHIB price has not rebounded accordingly. Technical charts show that the token has fallen below its recent trading range, continuously forming lower highs, and maintaining a clear downward structure. Each brief rally is being used by bears as an opportunity to reduce positions rather than as a signal to build positions. Although momentum indicators are approaching oversold territory, no clear reversal pattern has yet emerged, and market sentiment remains cautious.
The distribution of trading volume further corroborates this trend: trading volume significantly increases during price declines, while it is relatively low during upward phases, indicating that the dominant market force remains passive selling. Even with the ongoing operation of the token burn mechanism and the steady reduction of the total supply, short-term price movements are still dominated by market sentiment and the breakthrough of key resistance levels.
Notably, this large-scale outflow, coupled with the long-term token burn plan, collectively reinforces SHIB's scarcity narrative. However, the current market is more focused on whether the price can stabilize and regain key moving average resistance levels. If it fails to form consecutive higher lows, the technical outlook will remain weak.
Overall, SHIB is currently in a period of balance between sentiment and structure. While there are fundamental support signals, there is a lack of clear momentum for a trend reversal. Market participants are generally taking a wait-and-see approach, awaiting clearer breakout signals.