What to Know
- Whale withdrawals offset rising exchange balances, creating mixed market signals for Shiba Inu investors monitoring price momentum.
- SHIB remained above its 26-day and 50-day moving averages while facing resistance from the 100-day exponential moving average repeatedly.
- Growing network activity and stronger trading volume supported the recovery despite conflicting exchange flow data keeping traders cautious.
Shiba Inu (SHIB) is displaying conflicting on-chain signals as large investors remove significant amounts of tokens from exchanges while overall exchange reserves increase. The combination has created uncertainty over whether accumulation or selling pressure will dominate the token’s next price move.
Blockchain data shows exchanges received more than 603 billion SHIB during the past 24 hours, while nearly 406 billion SHIB left trading platforms, resulting in a positive net exchange flow of approximately 197 billion SHIB. Despite higher exchange balances, the average withdrawal size also increased, suggesting whale wallets remained active by moving substantial amounts of SHIB into self-custody instead of leaving every token available for trading.
Although rising exchange reserves often point to greater selling availability, large withdrawals typically indicate investors prefer holding assets outside exchanges, revealing that both buyers and sellers remain actively engaged rather than one side dominating the market.
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SHIB Faces Major Technical Barrier
SHIB traded around $0.00000500 after recovering from its July lows, while remaining above both the 26-day and 50-day exponential moving averages to preserve its recent recovery structure. However, the 100-day exponential moving average continues to cap price advances after rejecting multiple bullish attempts since the beginning of the year, making it the market’s primary resistance level.
Source: Tradingview
The Relative Strength Index remained above 60, reflecting healthy buying momentum without reaching overbought conditions, while the latest breakout attracted one of the strongest trading volume increases recorded in several months. Higher trading volume strengthened the latest move because previous recovery attempts lacked similar market participation, leading traders to view the current advance with greater confidence.
Additionally, on-chain activity recorded a modest increase in both active sending and receiving addresses, indicating broader network participation instead of price movement driven solely by speculative derivatives trading.
Network Activity Supports Market Participation
Growing wallet activity adds another layer to SHIB’s recent market performance. Although the increase remains moderate, it suggests more participants are interacting with the network during the current recovery phase.
At the same time, market participants continue balancing rising exchange reserves against large-scale withdrawals from whale wallets. Therefore, investors are closely monitoring whether buying demand can absorb the additional tokens available for trading.
A sustained move above the 100-day exponential moving average would strengthen SHIB’s technical outlook if supported by another increase in trading volume. Conversely, weakening demand alongside expanding exchange reserves could limit additional gains despite ongoing whale accumulation.
Conclusion
SHIB remains caught between accumulation and potential selling pressure as whale withdrawals offset rising exchange balances. The interaction between those opposing forces, together with price action around the 100-day exponential moving average, will likely determine the token’s next directional move.
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