Shiba Inu (SHIB), one of the most closely monitored meme coins in the crypto market, has just witnessed a massive on-chain shift that has raised more questions than answers. Over the past week alone, inflows have surged by 1,109%, while outflows have jumped by 822%. Even more astonishingly, SHIB’s 30- and 90-day on-chain metrics show inflows up by 1,155% and 1,141%, with outflows climbing 1,582% and 815%, respectively.
Despite this impressive spike in activity, the price of SHIB has remained stuck in a consolidation range. It is currently hovering around $0.000016, just under the critical 200 EMA resistance level.
Price Remains Flat Despite Unusual Whale Behaviour
This disconnect between massive on-chain activity and stagnant price action suggests that the recent inflow and outflow surges may stem from internal repositioning, profit-taking, or strategic reallocations by large holders, rather than a wave of fresh retail demand. Analysts interpret this as a signal that whales are preparing for a bigger move, but whether that’s bullish or bearish remains to be seen.
Currently, the 200 EMA at $0.000016 serves as firm resistance, while the 100 EMA near $0.000014 is crucial support. Meanwhile, volume has remained subdued compared to early May levels, and the Relative Strength Index (RSI) holds near neutral territory at 60. This technical setup suggests the market could swing either way, depending on the next catalyst.
Redistribution or Reversal? Traders Watch for Confirmation
Increased on-chain activity typically precedes price volatility, but without strong follow-through from volume and price action, the current behaviour might not mean much. Still, the sharp rise in whale-driven transactions may indicate redistribution ahead of a major market event or reflect tactical adjustments amid changing macro conditions.
Traders should closely monitor the price thresholds of $0.0000135 and $0.000016. A breakout above or below these levels could signal the start of SHIB’s next major trend. Until then, this flurry of on-chain movement serves both as a warning and a signal of potential.
Related article: Shiba Inu Poised for Breakout: Analysts Say Accumulation and Whale Moves Set the Stage
Final Takeaway: Stay Alert, But Don’t Chase Noise
Shiba Inu’s dramatic surge in inflows and outflows might resemble a typical meme-fueled hype cycle from past bull runs. However, the market stands at a critical crossroads without clear confirmation from volume and breakout signals. Analysts urge SHIB investors and traders to stay informed and proceed with caution, as the real move could unfold rapidly.
