Shiba Inu holders pulled about 257.9 billion SHIB from crypto exchanges over the past 24 hours, producing one of the token’s largest negative netflow readings in recent weeks. That move cut the amount of SHIB readily available for sale on trading venues. Price action remains weak, but the on-chain picture has started to look less one-sided.
Large exchange outflows reduce immediately available supply
Exchange netflow tracks the balance between deposits and withdrawals. When withdrawals exceed deposits by a wide margin, it often suggests investors are moving tokens into private wallets instead of keeping them on platforms for quick liquidation. That is the main implication of the latest SHIB move. Fewer coins on exchanges can ease near-term selling pressure.
Reserve data pointed in the same direction. Total SHIB held on exchanges fell by 0.32% during the same period, showing that tokens continued to leave trading venues rather than return to them. For market participants, that kind of supply contraction is often treated as a constructive signal because it changes how much spot inventory is available for immediate sale.
Price structure stays weak even as RSI enters oversold territory
The outflow came while SHIB was still under pressure on the chart. The token recently broke below an ascending channel that had supported its price movement since March, then slipped under several key support levels. Sentiment turned bearish. The chart has not repaired that damage yet.
At the same time, SHIB’s Relative Strength Index dropped to around 26, placing it in oversold territory. Traders watch that indicator closely because readings below 30 can suggest selling momentum is becoming exhausted. A falling exchange balance combined with oversold conditions often draws attention from traders looking for a rebound setup.
Moving averages still point lower, with resistance ahead
Even with the stronger on-chain readings, SHIB is still trading below its 50-day, 100-day, and 200-day moving averages. All three continue to slope downward, which leaves the broader structure weak. That means improving flow data should not be read as confirmation of a full trend reversal.
If SHIB attempts a recovery, resistance is likely between $0.0000053 and $0.0000060. Even so, the withdrawal of nearly 258 billion tokens has tightened exchange supply and made the short-term setup more supportive than price action alone would suggest.