SHIB Plays Hardball: 30 Billion Tokens Flee Exchanges While Price Slumps 2.18%

Shiba Inu might be quietly staging a comeback, if the on-chain data is to be believed. Key metrics are suggesting that selling pressure is easing and accumulation could be picking up. It's early, but it's a notable departure from the relentless bearish trend that's been dragging $SHIB lately.

Over the past day, roughly 30 billion $SHIB tokens have fled centralized exchanges. When tokens move from trading platforms into private wallets, that's widely read as an accumulation signal. Holders are clearly in no rush to sell.

That said, exchange reserves for $SHIB are still pretty stacked overall. One day of outflows doesn't make a trend. We'd need to see sustained outflows over weeks to really get excited.

Currently, $SHIB trades around $0.00000577, down 2.18% in the last 24 hours.

Active receiving addresses are also ticking up modestly. More unique wallets accepting transfers means demand hasn't completely dried up, even as risk-off sentiment dominates.

On the charts, $SHIB remains below its 50-day and 100-day EMAs, both trending down as dynamic resistance. But here's the interesting part: higher lows are forming, and a tentative ascending support line is developing. That's the first constructive technical pattern after a long decline.

Still, the path higher faces selling pressure at those EMAs. Low-volume recovery attempts in downtrends typically fizzle at resistance. For a real bullish shift, $SHIB needs to clear those EMAs convincingly and print higher highs.

Until then, it's still technically bearish, despite the improving short-term setup.