SHIB Withdrawals Hit 442B as Investors Move Coins to Wallets
SHIB exchange flows suggest renewed accumulation. The article reports SHIB netflow near -134B tokens, while total exchange outflows top 442B SHIB, meaning more SHIB is leaving centralized exchanges than entering.
Traders often treat SHIB withdrawals as a “wallet move” signal rather than imminent selling. The latest pattern looks concentrated: the 7-day average outflow fell by over 73%, yet exchange reserves decreased only about 0.16%, implying a spike driven by a few large wallets (whales) instead of broad retail activity.
Technically, SHIB formed an ascending channel after a prior retracement and has reclaimed the 50-day moving average. It is now testing nearby resistance, with the next upside area close to the 100-day moving average.
Still, SHIB remains below the 200-day moving average, keeping a long-term bearish bias. The article also flags macro risk: overall market sentiment, especially BTC direction, could quickly reverse any memecoin strength.
For traders, the key is follow-through. A break above resistance could extend the rally, but sustained upside likely requires SHIB to hold above key moving averages and overcome the 200-day cap.
Neutral
SHIB exchange withdrawals are increasingly consistent with accumulation: netflow is deeply negative and outflows dwarf inflows, and the reserves drop is relatively small versus the activity shift—suggesting wallets are taking coins rather than immediate selling. That supports a near-term constructive bias, especially while SHIB is reclaiming the 50-day MA and retesting resistance.
However, the news is not fully bullish because SHIB still sits below the 200-day moving average, which limits upside confirmation. In addition, the article highlights that memecoin rallies are sentiment-driven, so broader market weakness—often led by BTC—could quickly negate the positive flow signal. Net impact on SHIB price is therefore balanced: supportive for a breakout attempt, but not yet a confirmed trend reversal.