Can Shiba Inu’s 200B token outflow help SHIB reclaim $0.000015? – Crypto News – Crypto News
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Can Shiba Inu's 200B token outflow help SHIB reclaim $0.000015? Can Shiba Inu's 200B token outflow help SHIB reclaim $0.000015?

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Can Shiba Inu’s 200B token outflow help SHIB reclaim $0.000015? – Crypto News

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1 year ago

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Key Takeaways

Shiba Inu’s on-chain metrics point to quiet accumulation, with long-term holders unmoved and exchange reserves dropping slightly. Although momentum indicators are cooling, SHIB continues to hold key support levels, hinting at a potential rebound if buying pressure returns.

Shiba Inu [SHIB] is entering an unusually quiet phase.

On-chain activity is muted, exchange reserves are slowly dropping, and long-term holders appear unfazed by the recent price volatility.

With older tokens dormant and fewer coins sitting on exchanges, could this cause a price rebound?

Dormant tokens signal conviction

According to Santiment, SHIB’s Age Consumed metric has plunged by 99.7% since mid-June, falling from to just $4.7 trillion.

This drastic decline suggests that long-term holders are choosing to sit still rather than sell into recent rallies.

Source: Santiment

SHIB’s previous price tops in May and early June coincided with sharp spikes in age consumed. But in July, despite the price touching $0.000015, older wallets remained inactive.

This behavior points to growing conviction among holders and reduces the risk of a sharp dump from legacy investors.

Exchange outflows hint at cooling sell pressure

Alongside dormant older tokens, SHIB also saw a steady drawdown in exchange-held supply.

From the 22nd of July to the 25th, Exchange Reserve dropped from 84.55 trillion to 84.35 trillion – a net outflow of 200 billion SHIB in just three days. At press time, it staged a mild recovery to 84.4 trillion.

shiba inu

Source: CryptoQuant

Though modest, this move indicates that some investors are pulling tokens off centralized exchanges, possibly into self-custody.

Usually, such withdrawals reduce short-term selling pressure and often precede periods of price stabilization or slow accumulation.

Combined with whale activity – like the recent 2.58 billion SHIB addition – this shift may be laying the groundwork for SHIB’s next price leg.

Momentum cools, but SHIB holds steady above key levels

After briefly rallying above $0.000015, the memecoin faced a sharp pullback but has since stabilized near the $0.000014 mark, at press time.

The RSI sat at 55.88, showing neutral momentum – neither overbought nor oversold.

SHIBA INU

Source: TradingView

Meanwhile, the MACD indicator showed a weakening bullish crossover, hinting at a slowdown in upside momentum.

Still, SHIB’s price has managed to hold above its July support, a sign of resilience despite profit-taking.

SHIB may be setting up for a more sustainable move… if buyers return with conviction in the days ahead.

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