Shiba Inu (SHIB) is showing signs of a potential trend shift as on-chain data reveals significant accumulation by large holders. Over a 24-hour period, a net outflow of approximately 192.6 billion SHIB tokens was recorded from exchanges. Analysts interpret this movement as a transfer to cold storage or accumulation, typically a precursor to reduced immediate selling pressure and a potential bullish signal.
This substantial withdrawal of liquidity coincides with a broader decline in SHIB's available supply on trading platforms. Data indicates the exchange supply has dropped to 288.75 trillion tokens, down sharply from a monthly high of 366.1 trillion. Concurrently, whale wallets have dramatically increased their holdings, now possessing 96.67 billion SHIB, up from a weekly low of just 1.36 billion.
From a technical perspective, SHIB's price action remains constrained within a bearish structure, with major moving averages acting as dynamic resistance. However, the token has formed a falling wedge pattern and is trading near a critical consolidation base around $0.0000084, slightly above its year-to-date low of $0.00000753. Momentum indicators like the RSI are neutral, reflecting the current market indecision.
Analysts suggest that if the accumulation pattern persists and the price manages to break above key technical levels—such as the 50-day moving average and the upper boundary of the descending wedge—a relief rally towards the $0.000010 resistance level (a ~20% increase) could materialize. The primary risk to this outlook would be a clear breakdown below the current consolidation support.
