Shiba Inu (SHIB) declined 1.86% over the past 24 hours, lagging behind the broader cryptocurrency market, which posted a modest 0.49% loss. The dip stems from a confluence of bearish signals: a notable uptick in exchange inflows, repeated failures to break through key resistance levels, and ambiguous behavior from large holders—collectively painting a cautious near-term outlook amid persistently low volatility.
One of the most pressing concerns is the recent surge in SHIB’s on-exchange supply. Data shows reserves climbing from 81 trillion to 82 trillion tokens in early January, halting a five-month trend of net withdrawals. Historically, rising exchange balances correlate with heightened selling pressure, as tokens become more readily available for liquidation. Compounding this risk is SHIB’s thin liquidity—its turnover ratio sits at just 2.07%, meaning even modest sell orders can trigger outsized price moves. Should exchange reserves continue climbing beyond the current 82 trillion threshold, further downside could follow.
Technical indicators reinforce this caution. SHIB twice attempted to breach the $0.0000089 resistance level this week but failed to close above it either time. With the 23-day simple moving average now hovering around $0.00000868, overhead resistance has tightened, limiting upward momentum. Momentum oscillators echo this fatigue: the Relative Strength Index (RSI) hovers near neutral territory at 48.9, while the MACD shows only a weak bullish crossover—insufficient to signal a meaningful reversal. A decisive daily close above $0.000009 would be needed to reset the technical narrative and reignite buyer interest.
Meanwhile, whale activity presents a mixed picture. On-chain data reveals a 111% spike in large transactions (those exceeding $100,000), totaling 3.36 trillion SHIB moved. Yet despite this surge in movement, net accumulation appears stagnant, and the price still fell. Notably, a $422,000 SHIB withdrawal from Coinbase suggests strategic portfolio adjustments rather than panic-driven exits. However, without clear evidence of sustained accumulation—particularly through consistent exchange outflows—the market lacks the conviction needed for a durable rally.
In sum, SHIB’s recent pullback reflects classic signs of profit-taking at resistance, amplified by growing liquidity on exchanges and indecisive behavior among major holders. While the token may be approaching oversold conditions near the $0.0000083 support zone, any meaningful recovery will likely depend on two key developments: a reversal in exchange inflows and unambiguous demand from whales signaling renewed confidence.
Source:: Can Shiba Inu Rebound? Technical Fatigue Meets Liquidity Risks