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Shiba Inu (SHIB) remains under steady selling pressure, even as on-chain metrics show unusual transfers on exchanges. The token now trades close to $0.0000084 after an extended decline, and both price action and flow data suggest that sentiment remains cautious. Data from recent sessions shows one of the largest exchange inflow spikes for SHIB in months. At the same time, the price still trades inside a clear declining channel.
On the daily chart, Shiba Inu still shows fragile price action. SHIB trades beneath the 20, 50, 100, and 200-day exponential moving averages, which now form a stacked barrier overhead.
Recent rebounds faded quickly near the EMA cluster between $0.00000865 and $0.00000934. Sellers used that zone to exit positions, and each bounce formed a lower high. The pattern keeps the broader trend pointed downward.
Shorter timeframes tell a similar story. SHIB repeatedly rejects a descending trendline and fails to hold above intraday volume-weighted levels. Support is near $0.00000820, while a break below that area would expose the lower channel region around $0.00000775.
SHIB needs a clean move above $0.00000860 and a daily close above the descending trendline to challenge the upper boundary of the channel and ease immediate downside risk.
On-chain metrics now attract close attention from market participants. The seven-day mean exchange inflow for Shiba Inu recently jumped by about 6,894%, one of the strongest readings in recent months. This surge indicates that large volumes of SHIB moved toward centralized trading platforms.
Exchange data shows that reserves grew while outflows lagged. Spot cumulative volume delta remains negative, and active address figures stay flat. Together, these signals suggest that additional supply reaches exchanges faster than fresh demand absorbs it.
Recent spot flow data strengthen the cautious trend. On December 5, SHIB saw about $1.24 million leave spot markets while trading near $0.00000842. In a market that already trends lower, such outflows usually indicate distribution rather than fresh accumulation by larger holders. Bulls often find that rebounds fade quickly when big wallets choose to lighten risk instead of increase exposure.
Until exchange reserves stop climbing and spot flows turn convincingly positive, attempts at rallies may struggle to extend. Short squeezes can still appear in this environment, yet the broader setup encourages careful positioning rather than aggressive dip buying.
Some analysts now compare the current Shiba Inu cycle to the pattern seen in 2020. During that period, SHIB peaked, dropped sharply for several months, and then staged a powerful rally after forming a base. They note that many meme coins peaked around August this time as well and then retreated.
Macro signals give additional context. Risk assets tied to smaller speculative tokens recently showed signs of renewed interest, a setup that in past cycles supported meme tokens.
Whale activity also stands out. On-chain trackers recently spotted about 390 billion SHIB leaving an exchange-linked wallet for a single active address. The tokens then moved across several platforms, including Binance and Bitget. The flow pattern looks more like a large holder reorganizing positions than routine retail activity, and it sets the stage for sharper moves if volatility returns.
For now, Shiba Inu still trades inside a controlled downtrend. Bulls need a clear break above $0.00000860 to change that picture. They also need to see exchange reserves decline and more coins shift into long-term wallets. Until those signs appear, many traders will continue to view SHIB as a market in distribution rather than one under steady accumulation.
Also Read: Shiba Inu Price Today: Where Is SHIB Price Heading In 2026 As Experts Call PayFi Coin The New Shiba
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