Shiba Inu has subtly lost liquidity over the last day in a way that is difficult to notice if you only consider the price. The exchanges have successfully transferred around 283 billion SHIB, and the on-chain picture shows that this is not just random noise. According to exchange data, there was a net outflow of approximately 275.8 billion SHIB, indicating that more tokens were removed from exchanges than added.
Shiba Inu walked away
That usually sounds optimistic on paper because pulling coins out of bags often indicates accumulation or long-term holding. However, context is important, and in this case, it is confusing. With a total outflow of around 629 billion SHIB and a total foreign exchange inflow of around 319.8 billion SHIB, there appears to be more turnover than clean accumulation.
To put it another way, SHIB is making a lot of moves, but not always in capable hands. Both seven-day average entries and exits (MA7) increased by almost 120% and more than 300%, respectively. That’s a warning sign of instability. Traders often reposition aggressively rather than calmly stack bags when both inflows and outflows increase at the same time.
USD value falls
The picture becomes clearer if we take into account that foreign exchange reserves decreased slightly (-0.33%), but the value of foreign exchange reserves in dollars fell by almost 7%. This indicates that price weakness, not just the symbolic movement, is contributing to the problem. This is supported by the price movement. SHIB is still stuck below significant moving averages and the long-term trend remains very negative.
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Volume spikes look more like reactionary trading than conviction buying, and recent bounces have been weak and quickly sold off. The lack of momentum is confirmed by the RSI sitting in the mid-range, which is neither oversold enough for a significant rebound nor strong enough to reverse the trend.
In terms of strength, SHIB continues to benefit from a large liquid market and high on-chain activity. The network is not dead, as evidenced by the slightly higher active addresses, and there is still enough liquidity for big players to resize without immediately destroying the chart. It is a structural weakness. In a downtrend, SHIB still acts as a distribution asset – rallies encourage exits rather than continuities.
These outflows are less indicative of bullish accumulation and more indicative of capital exiting cyclically on each bounce until exchange flows stabilize and price regains significant moving averages with volume. Obviously, SHIB is being diverted rather than stored, but it is not collapsing at the moment.
