Is Shiba Inu’s Price About to Pump? Large SHIB Outflows Hint at Accumulation

Shiba Inu’s recent behavior indicates a market experiencing both volatility and underlying accumulation. While the asset has faced short-term price pressure, on-chain and exchange flow data show growing interest from holders who appear to be positioning for longer-term prospects.

Data from CryptoQuant shows a noticeable shift in exchange behavior, with more SHIB tokens leaving trading platforms than entering them. A negative netflow of this magnitude generally reflects reduced immediate selling intent, as assets are moved into private wallets or alternative storage solutions.

This pattern often signals that holders are opting to retain their positions rather than trade them in the short term. By removing tokens from exchanges, the available supply for quick liquidation decreases, which can influence price stability if demand persists.

Supporting this observation, Coinglass data presents a similar, though smaller-scale, trend. Over the same 24-hour period, inflows to exchanges were valued at approximately $5.95 million, while outflows reached $6.13 million. 

This results in a net difference of $181,350, equivalent to roughly 30 billion SHIB at current price levels. Although the figures differ from CryptoQuant’s estimates, both datasets indicate that withdrawals are more than the deposits.

Price Movement and Market Reaction

Earlier in the week, SHIB experienced a decline lasting three consecutive days, with a total drop of around 6%. This followed a rejection near the $0.00000644 level, which acted as a short-term resistance point, but market conditions shifted shortly afterward. 

The asset has since recorded a gain exceeding 5%, supported by renewed buying activity during the Asian trading session. Technical indicators, including a dragonfly doji formation on the daily chart, suggest that selling pressure weakened toward the end of the previous trading cycle.

At present, SHIB is attempting to recover the losses it recorded earlier in the week. Continuous upward movement would depend on its ability to maintain momentum and overcome nearby resistance levels.

Liquidations Show Market Imbalance

The recent price fluctuations have led to increased liquidation activity. In total, about $186,080 worth of positions were closed involuntarily within 24 hours. Long traders were more affected, accounting for approximately $139,200 of these liquidations, compared to $46,880 attributed to short positions.

However, shorter timeframes reveal a shift in dynamics. Over a 12-hour window, short liquidations exceeded long liquidations, with $38,710 in short positions closed versus $12,700 in long positions. This suggests that bearish traders are beginning to encounter pressure as the market shows signs of recovery.

SHIB is currently trading near the $0.0000060 resistance zone. If the token successfully moves above this level, it could open the path for further gains. On the other hand, failure to break through may result in another pullback, with support levels located around $0.00000545 and $0.00000507.

Although there are still signs of short-term volatility, the consistent outflow of tokens from exchanges shows that some market participants are accumulating, and this may influence price direction in the coming sessions.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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