Shiba Inu posted its first negative exchange netflow in seven days, a shift that has drawn attention back to the token’s short-term setup. Data from CryptoQuant showed roughly 42.4 billion SHIB leaving exchanges, pointing to lighter immediate sell-side pressure and feeding expectations that bullish momentum may keep building.
The latest outflow was not described as the largest seen in past cycles, but traders still treated it as meaningful because it broke a stretch of rising exchange reserves. In crypto markets, tokens moving off exchanges are often read as a sign that holders are less inclined to sell in the near term. That matters. Lower exchange reserves usually mean less liquid supply is readily available for sale.
Exchange reserves retreat as SHIB’s structure improves
The change in flows arrived as SHIB’s chart continued to stabilize from its February lows. The token has recently moved above important short-term resistance levels and has kept printing higher lows since March. That pattern tends to attract traders looking for continuation rather than a brief rebound.
Current trading placed SHIB near the $0.0000064 area, where buyers were trying to push price toward the 100-day exponential moving average. This level has capped bullish attempts for months, which is why the ongoing test has become a focal point for the market. A clean move above it would likely change how traders classify the recovery.
100-day EMA in focus while broader trend stays incomplete
Momentum readings also remained supportive. The Relative Strength Index stayed above neutral territory without moving into overheated conditions, leaving room for more upside if the broader crypto market holds steady. Momentum, at least for now, has not been exhausted.
Still, SHIB remains below its 200-day exponential moving average, so the larger trend has not fully turned bullish. Meme coins also stay highly sensitive to Bitcoin’s direction and to wider market sentiment. For now, the case for a bigger rebound rests on two visible changes: shrinking exchange reserves and a cleaner technical structure. Whether that develops into a stronger reversal now depends heavily on how SHIB handles resistance at the 100-day EMA.