Over half a trillion Shiba Inu tokens exited exchanges in the past 24 hours, yet the on-chain picture tells a more nuanced story than a simple sell-off. While 406 billion SHIB left trading platforms, inflows hit 603 billion, creating a net outflow of 197 billion tokens and a mixed signal about where the market is headed.
Large holders are the key. The average withdrawal size jumped at the same time exchange reserves climbed, meaning whales are still pulling tokens out despite overall reserves growing. That's the unusual part. Normally, rising exchange balances suggest bearish pressure, since more coins available for trading usually means more selling pressure coming. But here, the heavy outflows from big players suggest they're moving SHIB into self-custody for holding, not dumping them immediately.
Both trends coexisting points to genuine two-way activity rather than panic distribution. Buyers are still there. The price reflects that balance, having rebounded sharply from July lows and now trading around $0.00000500. SHIB remains above both its 26-day and 50-day exponential moving averages, though it's consolidating just below the 100-day EMA, a level that's rejected bullish attempts since the start of the year.
This article is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with financial professionals before making investment decisions.
