263,000,000,000 SHIB: Abnormal Exchange Flows Imbalance

Shiba Inu on-chain data has shown an unexpected change: approximately 263 billion SHIB have been removed from exchanges in the past day, indicating a sharp reversal in investor sentiment after weeks of intense sell pressure. Since traders seem to be putting money back into cold storage, which is usually an indication of waning short-term sell interest, the move represents a significant shift in sentiment.

Exchanges losing SHIB

The exchange netflow has decreased by -292 billion SHIB, while the exchange reserve has decreased by 0.35%, leaving approximately 82.66 trillion SHIB on centralized platforms, according to the most recent CryptoQuant and on-chain data. At the same time, the number of active addresses increased by almost 1%, indicating that holders are once again interested in and active on the chain.

Timing is especially crucial. The price of SHIB experienced a sharp decline recently, plunging below the crucial $0.0000115 support and hitting lows close to $0.0000095 before modestly rising to between $0.0000104 and $0.0000105. These significant withdrawals occurred at the same time as the rebound, suggesting that whales or long-term investors may be starting to accumulate at lower levels once more.

SHIB still trapped

Technically, the chart continues to display SHIB trapped inside a descending wedge structure, with the 200-day EMA hovering above as a ceiling and resistance stacking close to $0.0000122-$0.0000133. Until the asset recovers these critical levels, the overall downward trend will continue. In the short term, though, the increase in outflows might prevent more downward pressure.

Looking at sentiment, this might be an early accumulation signal after billions of tokens were thrown onto exchanges in a panic earlier in October. After a protracted correction, the move back toward self-custody indicates that investors are now setting themselves up for stabilization or a possible recovery.

However, optimism must be measured. Compared to the early October sell-off, volume is lower, and the RSI is still in the neutral-to-oversold range, suggesting consolidation rather than a confirmed reversal.

To put it briefly, the departure of 263 billion SHIB from exchanges might be the first tangible indication of a supply reduction since the sell-off started. If maintained, it might give SHIB a platform to regain its momentum, but the crucial test before any bullish narrative can take root is still regaining the $0.0000115 zone.