- Billions of SHIB entered exchanges as whale activity intensified across major platforms
- SHIB lost key technical support while bearish momentum dominated broader memecoin trading
- Declining reserves and weaker market sentiment increased pressure on Shiba Inu prices
Shiba Inu (SHIB) recorded massive whale transfers to exchanges as more than 303 billion tokens moved across trading platforms within one day. The activity increased concerns across the memecoin market, especially as traders continued reducing exposure to risky assets. CryptoQuant data showed that the Exchange Inflow Top10 metric climbed above 6.1 billion SHIB during the latest trading session. At the same time, exchange outflows remained weaker, indicating that more holders were moving tokens toward potential selling zones instead of long-term storage.
The movement also coincided with declining market momentum across several cryptocurrencies. Bitcoin struggled to maintain recent gains, while memecoins experienced heavier volatility as leveraged traders reduced positions. Moreover, the dollar value of SHIB reserves on exchanges continued falling. CryptoQuant metrics revealed that the Exchange Reserve USD indicator declined more than 3%, reflecting ongoing weakness surrounding SHIB’s market structure.
Network activity increased slightly during the same period. However, blockchain data suggested that wallet transfers drove most of the activity instead of sustained accumulation from long-term investors.
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SHIB Technical Signals Continue Showing Weak Momentum
TradingView data also showed worsening technical conditions for Shiba Inu as the token remained below several major resistance levels. SHIB recently lost support from a rising wedge structure after multiple failed recovery attempts. Additionally, the token continued trading below the 50-day, 100-day, and 200-day moving averages. Analysts often consider that setup a sign that bearish momentum still controls the broader trend.
The Relative Strength Index also weakened after dropping below the neutral 50 level. Consequently, momentum indicators continued reflecting stronger selling pressure rather than renewed buying demand. Large exchange transfers from whale wallets also created uncertainty among retail traders. Similar movements previously triggered stronger volatility because investors anticipated additional sell pressure once tokens reached exchanges.
Besides weakening technical conditions, memecoin traders continued shifting funds into alternative crypto narratives with stronger momentum. Leveraged traders also reduced exposure during recent market swings, adding more downside pressure to SHIB and related assets. Still, traders continue monitoring exchange inflows closely for signs of stabilization. Slower whale transfers and stronger demand across the broader crypto market could eventually help SHIB establish support near current price levels.
Shiba Inu continued facing mounting pressure as billions of SHIB tokens entered exchanges during a weaker market period. Current on-chain metrics and technical indicators still reflect cautious sentiment across the memecoin sector.
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