**Shiba Inu Sees Massive Exchange Outflows: Is an Accumulation Phase Underway?**
Shiba Inu (SHIB) has reported another significant exchange outflow event, with 207 billion SHIB departing exchanges in just a 24-hour period. This stands out as one of the largest single-day withdrawals in months, signaling more than just a minor accumulation wave.
In a market where sentiment has been unstable, signals like this are especially important. According to CryptoQuant data, there was a net outflow of 121 billion SHIB on November 15 alone, with the trend continuing into November 16. Such consistent withdrawal activity points to a long-term strategy among holders.
When exchanges lose supply at this rate, spot selling pressure tends to dry up, sharply reducing the likelihood of a deep price breakdown. However, despite this bullish underlying activity, SHIB remains pinned under strong technical resistance.
**SHIB’s Technical Picture: Why Isn’t Price Breaking Out?**
Currently, Shiba Inu is trading between $0.0000090 and $0.0000093—a local support zone that has held firm several times, preventing a breakdown. Despite this resilience, SHIB is still far below all major moving averages, which have converged and are sloping downward, acting as dynamic resistance.
Momentum remains weak, with the Relative Strength Index (RSI) hovering around 39. Nevertheless, volume has stayed steady rather than collapsing, suggesting that holders are choosing to wait out the volatility rather than rushing to sell. This aligns perfectly with the recent outflow data: investors are removing tokens from exchanges because they’re prepared to endure market swings, not panic-sell.
**Accumulation Phase or Liquidation?**
Rather than entering a liquidation phase, SHIB appears to be entering an accumulation phase. For a strong upward move, the price needs to reclaim at least $0.0000105, where the first cluster of moving averages provides significant resistance. The next major resistance comes at $0.0000112.
So far, there hasn’t been a clear bullish breakout; the chart remains brutally honest about the hurdles ahead. Yet, something might be brewing beneath the surface: SHIB’s supply is vanishing from exchanges at a pace historically associated with significant trend shifts.
**Looking Ahead: Is a Recovery on the Horizon?**
While the price has yet to reflect these bullish undertones, SHIB may be laying the groundwork for a recovery leg if the outflow trend continues and the price manages to maintain its support zone. For now, SHIB holders seem ready to weather the storm, indicating strength rather than surrender as the market awaits the next big move.
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*Stay tuned for more updates on Shiba Inu and other crypto news.*
https://bitcoinethereumnews.com/tech/shiba-inu-exchanges-losing-shib-207000000000-in-24-hours/
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