The withdrawal of approximately 1 trillion SHIB from the stock exchanges in the last 24 hours in Shiba Inu pointed out a remarkable change in investor positioning. This move showed that tokens were moved to private wallets rather than being held on exchanges ready for trading. While stock exchange reserves generally remain high, the fact that net flow is in the direction of gravity indicates that short-term selling pressure may weaken.
Direction change signal in on-chain data
Strong outflows from stock markets are generally associated with periods when investors’ tendency to hold shares increases. Such transfers, especially when market sentiment is recovering, may highlight the desire to wait rather than the sudden intention to sell. While inflows and outflows remained high together in the latest data, the net withdrawal of approximately 1 trillion SHIB stood out as one of the most prominent daily movements of recent weeks.
Shiba Inu is known as a memecoin running on the Ethereum network. Recent on-chain indicators point to a gradual recovery, although not making the picture completely one-sided. Although the total supply on exchanges has increased slightly, the increase in the number of active addresses and the increase in the total number of transactions indicate that network participation is strengthening.
The net outflow of approximately 1 trillion SHIB sent a strong signal that investors were moving to take a longer-term position by withdrawing the tokens from exchanges.
Transaction volume increased sharply
On the technical side, SHIB recorded one of the strongest volume jumps in recent months. While daily trading volume reached nearly 2 trillion tokens, price action moved above the 26-day and 50-day exponential moving averages. This momentum marked a significant recovery compared to the downward trend that prevailed throughout most of July.
However, the attempt at ascension did not proceed uninterruptedly. The price encountered a sell-off after briefly testing the 100-day exponential moving average in the $0.0000050 to $0.0000051 range. The long upper wick on the daily candle indicated that profit taking took effect immediately after the breakout attempt.
| Indicator | Level | Meaning |
|---|---|---|
| initial support | $0.0000048 | Ascension attempt is being monitored for protection |
| close resistance | $0.0000054 to $0.0000055 | If exceeded, technical outlook may strengthen |
| Upper target zone | $0.0000060 | It is near the 200-day average |
Resistance and support levels stand out
The recovery of the medium-term moving averages is considered an important development in terms of technical outlook. On the other hand, the 100-day exponential moving average and the horizontal resistance zone between $0.0000054 and $0.0000055 are the next key threshold. If there is a sustained daily close above this area, a test of the 200-day average around $0.0000060 may be possible.
In the downside move, the first support is located at $0.0000048. If the price holds above this area, it may indicate that the last breakout attempt did not fail in a short time. If buyers continue to remove tokens from exchanges and trading activity remains high, there could be room for a broader recovery in SHIB following the weakness in recent weeks.
While exceeding the 26-day and 50-day averages provides a significant technical improvement, the $0.0000054 and $0.0000055 band stands out as the decisive resistance zone in the short term.
