Can Shiba Inu’s 200B token outflow help SHIB reclaim $0.000015?
Main Idea
Shiba Inu (SHIB) is experiencing a period of quiet accumulation with reduced on-chain activity and exchange outflows, suggesting potential for a rebound if buying pressure returns.
Key Points
1. SHIB’s Age Consumed metric dropped by 99.7% since mid-June, indicating reduced selling pressure from long-term holders.
2. Exchange reserves saw a net outflow of 200 billion SHIB in three days, hinting at cooling sell pressure and possible accumulation.
3. SHIB’s price remains steady above key support levels, with RSI at 55.88 showing neutral momentum and MACD indicating a weakening bullish crossover.
4. Whale activity, including a recent 2.58 billion SHIB addition, may be laying the groundwork for SHIB’s next price movement.
5. Despite muted on-chain activity, SHIB’s ability to hold support levels suggests potential for a rebound if buying pressure increases.
Description
SHIB’s age consumed drops 99.7% while 200B tokens exit exchanges. Are whales quietly accumulating?
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