Shiba Inu (SHIB) Sees 468 Billion Tokens Hit Exchanges in 24 Hours

On-Chain Flow Picture

On Wednesday, Sept. 10, on-chain flow data showed roughly 468 billion Shiba Inu (SHIB) tokens moving into cryptocurrency exchanges across the trailing 24 hours, a deposit wave that arrived just as the token's most recent recovery attempt lost traction. Total inflows climbed 0.65% to approximately 268.14 billion SHIB, while the average deposit size rose 0.48% to about 1.15 billion tokens. The mechanics matter: tokens moved onto an exchange can be traded or sold almost immediately, so sustained deposit growth is read as a leading indicator of potential distribution.

The outflow side, however, keeps the ledger balanced. Total exchange outflows increased 1.77% to roughly 438.71 billion SHIB, and the seven-day moving average of mean outflows jumped 62.69% to approximately 734.49 million tokens — a sharp acceleration in withdrawal activity. Exchange reserves still slipped 0.2% to 87.23 trillion SHIB, leaving netflow at about -170.57 billion SHIB. More SHIB was leaving exchanges than entering them, so the data does not yet confirm coordinated selling — the kind of flow shift a market maker would treat as an early warning rather than a confirmed one.

Price told a stricter story. Earlier in the session, SHIB traded near $0.00000515, down about 2%, after breaking below the short-term rising trendline that had carried the memecoin up from its August low; at that stage it was testing the 20-day moving average near $0.00000517, per the live SHIB/USDT chart. Below, the 50-day average around $0.00000494 and the 100-day average around $0.00000504 form the next support cluster — a zone where SHIB recently held its $0.00000500 support — while momentum cooled with the RSI slipping to roughly 49.7, back in neutral territory. For bulls, recovering the $0.00000540–$0.00000550 band would repair part of the short-term structure, with the 200-day average near $0.00000566 still the larger barrier. Readers weighing an entry can consult our guide on how to buy Shiba Inu.

Analysts Flip to Sell

By early afternoon UTC, the sentiment picture darkened further. TradingView's aggregated analyst rating for Shiba Inu flipped to a sell signal — a verdict our desk reads as the continuation of a drawdown that has already erased most of the gains the token produced in earlier years, with the past month's slide adding fresh damage to holder confidence. The consensus view flags weak short-term buy appetite as a core driver of the sell pressure, and singles out a specific risk: should long-suffering positions return to break-even levels, exit tendencies are expected to dominate, while limited new inflows do little to absorb the supply.

Ecosystem-specific questions compounded the technical caution. Interest in the ShibaEternity Card Collectible game has faded versus the prior period, and expectations for SHIB: The Metaverse have weakened substantially as broader retail enthusiasm for metaverse themes cooled — a familiar pattern for a community-driven asset, as our Shiba Inu coverage has tracked across the project slate. More consequentially, burn data on Shibarium — the layer-2 network built for low transaction fees and positioned as the main engine of SHIB burns through transaction activity, one that earlier saw daily transactions jump 122% to 1,750 — is no longer displayed on the official website. That visibility gap around the ecosystem's burn-driven tokenomics has widened investor question marks, even in sessions when the burn rate jumped 1,307% in a single day.

Competition adds a third layer of pressure. Through 2026, stronger returns across other crypto assets and AI-linked equities have tightened the battle for speculative capital, making it harder for SHIB to recapture comparable attention and flows. First-time capital, analysts note, tends to migrate toward steadier or stronger growth narratives — and a prolonged lull could further narrow the token's market footprint. Readers tracking the market in real time can follow live spot and futures prices on Gate.

Composite Scores Point Sideways

COINOTAG's proprietary 42-indicator composite S/R scoring engine frames the near-term map: the strongest support cluster scores 57/100 on the Fibo 0.618 source, with a second band at 55/100 on a Donchian Lower, Swing Low and Fibo 0.618 confluence; overhead, the nearest resistance band rates 53/100, built on Fibo 0.500 and Fibo 0.382 confluence. RSI at 48.42, a neutral MACD and a sideways trend confirm range-bound conditions after the -6.25% 24-hour slide. Perpetual funding of 0.0050% — longs still paying — and a Fear & Greed Index of 69/100 (Greed) suggest positioning is not yet washed out. Holding the 55–57 scored cluster keeps the range intact; a decisive loss would invalidate the bullish scenario, while reclaiming the 53-scored resistance band would reopen the recovery path. The latest reading leaves the sideways condition in place, with funding still mildly positive.