Key Highlights
- Shiba Inu saw large withdrawals from exchanges, about 141 billion SHIB tokens, which may reduce selling pressure.
- Despite this, the SHIB price is still down, showing sellers are still in control in the short term.
- Overall market activity is low, with fewer traders buying or selling, slowing any strong recovery.
After weeks of trading sideways, Shiba Inu (SHIB) is finally showing early signs of a price recovery as exchange data reveals a sharp drop in netflow.
According to CryptoQuant, SHIB’s exchange netflow has dropped to -141.528 billion, representing a 0.9% decline. Netflow simply measures the difference between tokens entering and leaving exchanges. When the number is negative, it means more tokens are leaving exchanges than coming in.
In the crypto market, this is often considered a sign that investors are moving their assets into private wallets instead of preparing to sell them. When fewer tokens are available on exchanges, it can reduce the selling pressure and sometimes support price stability.
The data also shows that the gap between withdrawals and deposits is very large, reaching hundreds of billions of SHIB tokens. This suggests that some investors may be buying and holding the token at lower prices.
That does not mean the bulls are back in full control yet. The price has remained under pressure in the short term, indicating that while some buyers may be positioning for a recovery, conviction across the market is still limited.
Exchange data hints at accumulation
Large outflows from exchanges are generally seen as constructive because they reduce the supply readily available for sale. In SHIB’s case, the latest netflow reading suggests that some holders may be shifting toward a longer-term stance.
Still, the broader on-chain picture remains mixed. Exchange outflows over the past 24 hours have dropped below 1 billion SHIB, which points less to aggressive accumulation and more to weaker overall activity. In other words, the market appears quiet rather than decisively bullish.
The slowdown is also visible in trading conditions. Fewer participants are making strong directional bets, leaving SHIB stuck in a consolidation phase.
SHIB stays trapped in a tight range
At press time, SHIB is trading at $0.00000594, reflecting a 0.39% drop over the past 24 hours. Trading activity is also down by 11% over the same period, reaching about $119 million in volume, while the market cap sits at $3.5 billion.
The muted move reflects a market that is still looking for direction. SHIB has been consolidating broadly between $0.00000664 and $0.00000508, with neither buyers nor sellers able to force a decisive breakout.
On the 4-hour chart, price action remains compressed near the middle of that range. SHIB is hovering around $0.00000596, with immediate resistance near $0.00000616. A broader supply zone sits around $0.00000645 to $0.00000660, while the nearest support is around $0.00000565. If that floor breaks, the next stronger downside support appears near $0.00000505.
Technical outlook remains neutral but constructive
From a structural perspective, SHIB appears to be stabilizing after a prolonged downtrend. The chart shows repeated attempts to test the $0.00000610–$0.00000616 zone, but sellers have continued to defend that area. At the same time, buyers have managed to protect dips above $0.00000565, creating a tightening range.
The Relative Strength Index (RSI) is currently near 51, which suggests neutral momentum. This means the token is neither overbought nor oversold, reinforcing the idea that SHIB is in a waiting phase rather than a confirmed trend.
For bulls, the key level to watch is $0.00000616. A convincing breakout above that level could open the door toward $0.00000645–$0.00000660, where a larger supply zone begins. A move through that region would strengthen the case for a broader recovery.
On the downside, failure to hold $0.00000565 would likely weaken the recovery setup and expose SHIB to a deeper retest toward $0.00000505.
For now, SHIB’s setup looks neutral to slightly bullish. Exchange withdrawals have improved the backdrop, but the price still needs to clear resistance before the recovery case becomes stronger.
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