Shiba Inu: 30B SHIB outflows hint accumulation, but EMAs still cap rallies
Shiba Inu (SHIB) is down about 2.18% in the past 24 hours, yet on-chain data shows early momentum improvement. Roughly 30B SHIB moved out of centralized exchanges over 24 hours, shifting exchange netflows and often read as accumulation rather than immediate sell pressure. Even so, exchange reserves remain high in absolute terms, so traders should treat this as an early signal.
A modest rise in active SHIB receiving addresses also suggests demand is still present, even as broader sentiment turns risk-off. However, follow-through matters: monitor whether SHIB exchange outflows and receiving addresses stay elevated over days to weeks.
Technically, SHIB remains bearish. Price is still below the 50-day and 100-day EMAs, both trending downward and acting as overhead resistance. While higher lows and a developing ascending support line suggest some stabilization after the recent local bottom, it is not a confirmed reversal. A bullish trigger would be a convincing reclaim of the 50/100 EMA zone and higher highs backed by stronger volume. Until then, traders may view the outflow-driven accumulation as temporary support rather than a durable rally.
Neutral
The news is mixed for SHIB. On-chain flows turn supportive: 30B SHIB leaving exchanges and a rise in active receiving addresses point to reduced near-term sell pressure and possible accumulation. That can help stabilize dips.
However, the technical picture remains bearish. SHIB is still below the 50-day and 100-day EMAs, which are trending down and acting as overhead resistance. Without a clear reclaim of these EMAs and higher highs on stronger volume, traders may not get a durable trend shift. Net effect: accumulation signals may reduce immediate downside, but resistance overhead keeps the setup uncertain—more consistent with neutral to watch-and-confirm rather than an outright bullish reversal.