652 Billion SHIB Moved in 24 Hours — Exchanges See Mixed Flows, Price Stays Range-Bound
Shiba Inu (SHIB) experienced unusually large on-chain activity with over 652 billion SHIB transferred within 24 hours across exchanges and private wallets. Exchange inflows and outflows both spiked, indicating simultaneous deposit and withdrawal activity rather than a one-sided trend. Large-holder outflows suggest reduced immediate selling pressure for some holders, while elevated inflows point to other participants preparing to trade or rebalance. Net exchange reserves rose slightly, underlining a cautious market posture. Price action reflected this indecision: SHIB rebounded from local support and rose above short-term moving averages but stalled near the 100-day exponential moving average. Trading volume expanded during the recovery, yet momentum indicators (e.g., RSI) hovered near neutral levels. The surge in token transfers raises the risk of heightened short-term volatility; a decisive break above resistance on sustained volume could be bullish, whereas failure to clear resistance may trigger renewed downside. This report is informational and not financial advice.
Neutral
The on-chain data shows large-scale activity but with mixed intent: both exchange inflows and outflows rose sharply. This pattern historically produces sideways price action and elevated volatility rather than a clear directional trend. Examples: past large transfer events for meme coins (including SHIB and DOGE) have led to short-term spikes or dips depending on whether transfers concentrated on exchanges (selling pressure) or to cold wallets (reduced supply). Here, slight net increase in exchange reserves plus stalled momentum near the 100-day EMA suggests traders are repositioning rather than committing to a directional move. Short-term impact: elevated volatility and quick directional moves if a large actor sells or if buy-side demand materializes at resistance breakouts. Traders should watch net exchange flows, volume confirmation on breakouts, and RSI/momentum — these will signal whether the mixed flows resolve into a bullish breakout or bearish decline. Long-term impact: unless transfers mark a sustained accumulation or mass offloading, fundamental supply-demand balance for SHIB is unlikely to change materially from this single-day event. Therefore, expect neutral-to-cautious market behavior until clearer on-chain trends and price confirmations emerge.