Shiba Inu (SHIB) continues to test investor patience despite a substantial 15.4 billion SHIB token outflow from exchanges in the past 24 hours. On-chain data from CryptoQuant shows a netflow of -18.1 billion tokens, signaling that more coins were withdrawn than deposited, a metric often seen as bullish. Yet, this apparent accumulation trend has failed to ignite any meaningful price recovery for the meme-inspired cryptocurrency.

At press time, SHIB trades around $0.0000099, reflecting a modest 2% decline from previous levels. The asset remains pinned beneath major resistance barriers, with the 26-day Exponential Moving Average (EMA) acting as a persistent ceiling. The 50-day EMA hovers near $0.0000108, while the 200-day EMA stands well above $0.0000125—confirming a bearish market structure. Technical analysts note that until SHIB breaks decisively above these dynamic resistance lines, momentum will remain subdued.

While long-term holders moving tokens off exchanges could indicate confidence, analysts warn that this on-chain movement alone isn’t enough to offset structural weaknesses in the Shiba Inu ecosystem. The lack of robust burn activity—a process that permanently removes tokens from circulation—continues to hinder SHIB’s price appreciation. Token burns remain too sporadic to significantly impact supply, dampening hopes for a sustained bullish reversal.

Trading volumes have also thinned considerably, reinforcing a sense of market indecision. The Relative Strength Index (RSI), hovering around 47, suggests neither overbought nor oversold conditions—often a sign of investor hesitation. Without a convincing breakout above the $0.0000108 mark, analysts expect sideways trading or renewed selling pressure to persist.

In summary, while the recent 15 billion SHIB outflow underscores cautious accumulation behavior, it lacks the scale to catalyze a major shift in market sentiment. Until higher burn rates, rising volumes, and stronger technical breakouts emerge, Shiba Inu’s path forward may remain frustratingly muted for investors seeking a clear bullish signal.