Ethereum's $3,000 Push Triggers Anomalous Shiba Inu Capital Flows

Ethereum's price is poised to break through resistance at $2,474 and potentially reach $3,000, according to technical analysis. A symmetrical triangle has formed on Ethereum's 12-hour chart, which in the past led to a 31% gain in just three days. This pattern is causing related assets in the ERC-20 ecosystem to move in tandem with Ethereum.

Shiba Inu (SHIB) spot market capital movements are also being influenced by this technical picture. Large holders withdrew more than $300 million worth of Ethereum from exchange addresses to cold wallets before the triangle formed, reducing supply and causing prices to stabilize within a narrow range of $2,480-$2,510.

Despite holding its value, Shiba Inu is experiencing unusual capital movements on major exchanges. Net outflows were recorded from Binance (-$122.02K) and Coinbase (-$156.07K), indicating that long-term holders are withdrawing their tokens for storage. Meanwhile, OKX (+$199.48K) and Bybit (+$93.82K) recorded net inflows.