Shiba Inu Exchange Flows Shift as SHIB Struggles to Break Resistance

Shiba Inu (SHIB) is experiencing a notable shift in exchange flows, with a significant divergence between inflows and outflows. The latest data shows that around 406 billion SHIB have been withdrawn from exchanges, compared to inflows, which could limit immediate sell-side liquidity. Exchange inflows are currently at approximately 287.2 billion SHIB, while outflows have reached 356.7 billion, resulting in a negative netflow of roughly 101.2 billion SHIB. This negative netflow suggests that more tokens are leaving exchanges than entering them, potentially reducing the supply available for sale.

Despite this, the intensity of withdrawals has weakened substantially, with the seven-day moving average of mean exchange outflows collapsing by 51.4%. Additionally, active addresses have seen only a slight increase of 0.87%, indicating no significant surge in network demand accompanying the exchange withdrawals. Total SHIB held on exchanges declined by 0.11% over 24 hours to approximately 88.03 trillion tokens, with the dollar value of those reserves falling 1.42% to around $519.4 million.

SHIB is currently trading around $0.00000589, having recovered from September's sub-$0.00000500 levels. The price remains above a major long-term moving average near $0.00000565, which has repeatedly attracted buyers during recent corrections and now serves as the most important immediate support. On the upside, SHIB continues to struggle with the $0.00000600, $0.00000610 region, with multiple failed attempts to establish a sustained breakout. The September peak around $0.00000630 remains a larger technical barrier.

The Relative Strength Index (RSI) remains moderately bullish without reaching overbought territory, suggesting that momentum does not prevent another breakout attempt. However, the exchange data alone is unlikely to determine SHIB's direction. Bulls need to convert declining exchange reserves and negative netflows into actual demand. A breakout above $0.00000610, followed by $0.00000630, would provide confirmation. Conversely, losing $0.00000560 would undermine the current recovery and expose SHIB to another move toward $0.00000540, $0.00000500.