thecryptobasic.com
Shiba Inu is beginning to show early signs of a potential momentum shift, as more than 23 billion $SHIB tokens have been withdrawn from crypto exchanges within the past 24 hours.
Although Shiba Inu remains in a broader downtrend, subtle behavioral changes, particularly in exchange flows and wallet activity, suggest that selling pressure is easing while accumulation is gradually emerging.
Key Points
- Shiba Inu flashes early signs of a potential momentum shift, as exchange outflows are beginning to outweigh inflows.
- More than 23 billion $SHIB tokens moved off crypto exchanges within 24 hours.
- Active receiving addresses rose by 0.91% over the same period, reaching approximately 91.
- Despite these signals, $SHIB remains under bearish pressure, down 1.24% on the day and 1.31% over the past month.
Over 23B $SHIB Leave Exchanges
Shiba Inu’s exchange netflows, which measure the difference between inflows and outflows on trading platforms, currently stand at -23.537,600,000 (23.53 billion) $SHIB. This negative reading confirms that users are withdrawing significantly more tokens than they are depositing, with roughly 23.53 billion $SHIB exiting exchanges.
As investors move these tokens into private wallets, they signal that aggressive selling is slowing, while some market participants may be positioning for potential future gains.
Moreover, the decline in exchange-held supply supports short-term price stabilization. Despite this outflow trend, Shiba Inu’s exchange reserves remain elevated at 81.27 trillion $SHIB. However, reserves have declined by 0.03% over the past 24 hours, reflecting a gradual reduction in exchange supply.
Active Receiving Address Spikes, but $SHIB Remains in Bearish Zone
Further, network activity is improving modestly. Data from CryptoQuant shows that active receiving addresses have increased by 0.91% over the past 24 hours, reaching approximately 91. This uptick indicates that demand persists, even as broader market sentiment remains cautious.
Despite these early signs of a momentum shift, Shiba Inu continues to face bearish pressure following Friday’s broader market pullback. At press time, $SHIB has declined by 1.24% over the past 24 hours and 1.31% over the past month. It currently trades below the $0.000006 level, with a price of $0.000005722 per token.
Meanwhile, trading activity has weakened significantly. Shiba Inu’s volume has dropped by 25% in the last 24 hours to $70.8 million. As a result, although selling pressure appears to be easing, the lack of strong volume and broader market support suggests that the current phase may still represent a temporary pause rather than the start of a sustained upward trend.