Shiba Inu recorded 164 billion SHIB in exchange outflows recently. Active addresses and transfer activity increased despite weak prices. Exchange reserves declined further as traders monitore
More than 164 billion SHIB left centralized exchanges over the past 24 hours, signaling that selling pressure on Shiba Inu may be starting to ease. The latest on-chain data shows holders continue withdrawing tokens from trading platforms, reducing the supply readily available for immediate selling.
According to recent market data, SHIB recorded exchange netflows of approximately negative 164 billion tokens during the period. Negative netflows occur when withdrawals exceed deposits. As a result, traders often view the trend as a sign that investors are choosing to hold assets rather than move them toward exchanges for liquidation.
The development stands out because exchange activity had remained elevated earlier this month. Although a single day does not establish a long-term trend, the latest movement has shifted attention toward the possibility of growing accumulation among holders.
Besides the notable outflows, other on-chain indicators remained stable. Active addresses posted modest gains over the same period. Additionally, transfer activity and token velocity increased slightly, suggesting that network participation continues despite weak price performance.
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The broader on-chain picture further supports the view that selling pressure is easing, as exchange reserves declined by another 0.19% over the past day. Consequently, fewer SHIB tokens remain on centralized trading platforms, a metric often monitored for signs of reduced selling activity.
Moreover, traders are closely watching whether this trend extends over multiple sessions. Continued reserve declines alongside stable network activity could strengthen the case for accumulation. Such conditions often indicate that investors are moving assets into long-term storage rather than preparing them for near-term sales.
However, SHIB still faces important technical hurdles. The token remains trapped within a descending structure that has influenced price action since March. Recent recovery attempts also failed to secure positions above the 20-day and 50-day moving averages, leaving the asset below key trend indicators.
Source: Tradingview
Market participants are therefore focusing on support near the $0.0000055 level. Momentum indicators are approaching oversold territory, which has previously preceded short-term rebounds. Nevertheless, earlier relief rallies struggled to develop into sustained uptrends without broader market participation.
Shiba Inu’s latest exchange data suggests that sell-side pressure is beginning to ease as 164 billion SHIB leaves trading platforms. A stronger recovery will likely depend on continued exchange outflows, declining reserves, and renewed buying activity across the wider cryptocurrency market.
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The post Shiba Inu Sees 164 Billion SHIB Leave Exchanges as Selling Pressure Eases appeared first on 36Crypto.
