• Shiba Inu pushed away
• USD value falls

Shiba Inu has subtly lost liquidity over the past day in a way that is difficult to notice if you just consider price. Exchanges have successfully transferred about 283 billion SHIB, and the on-chain image shows that this is not just random noise. According to exchange data, there was a net outflow of roughly 275.8 billion SHIB, indicating that more tokens were removed from exchanges than were added.

Shiba Inu pushed away

That typically sounds bullish on paper because moving coins off exchanges frequently indicates accumulation or long-term holding. However, the context is important, and in this case, it is messy. With a total outflow of about 629 billion SHIB and a total exchange inflow of about 319.8 billion SHIB, there appears to be more churn than clean accumulation. 

To put it another way, SHIB is making a lot of moves — but not always to capable hands. Both the inflow and the seven-day average outflow (MA7) increased by almost 120% and more than 300%, respectively. That is a warning sign of instability. Traders are typically aggressively repositioning rather than calmly stacking bags when both inflows and outflows spike at the same time.

USD value falls

A clearer picture emerges when you consider that exchange reserves decreased slightly (-0.33%), but the value of exchange reserves in USD fell by almost 7%. This indicates that price weakness, not just token movement, is contributing to the problem. This is supported by price movement. SHIB is still trapped beneath significant moving averages, and the long-term trend is still very negative.

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Volume spikes seem more like reactionary trading than conviction-buying, and recent bounces have been feeble and swiftly sold into. The lack of momentum is confirmed by the RSI hovering in the midrange, which is neither oversold enough for a significant bounce nor strong enough to reverse the trend. 

In terms of strength, SHIB continues to profit from a large liquid market and high on-chain activity. The network is not dead, as evidenced by slightly higher active addresses, and there is still enough liquidity for big players to change size without immediately destroying the chart. It is a structural weakness. In a downtrend, SHIB still acts like a distribution asset: rallies encourage exits rather than follow-through. 

These outflows are less indicative of bullish accumulation and more indicative of capital cycling out through each bounce until exchange flows stabilize and the price regains important moving averages with volume. SHIB is obviously being siphoned rather than stored, but it is not collapsing at the moment.

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