33,253,435,685,633.082 Shiba Inu in 24 Hours: What Was That?

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Supply-driven or natural? Shiba Inu stays down Advertisement One of the most ridiculous exchange outflow prints the market has seen in months was just recorded by Shiba Inu: 33.25 trillion SHIB left exchanges in a single 24-hour period. That type of transfer would, theoretically, suggest whale consolidation, massive accumulation or even a coordinated supply shock. Supply-driven or natural? However, the price and volume charts paint a different, much more realistic picture: this was most likely an anomalous spike rather than the start of a supply-driven meltdown. SHIB/USDT Chart by TradingView SHIB is trading in the vicinity of $0.0000084-$0.0000086, nearly exactly where it was prior to the reported outflow. There is not a sudden squeeze on liquidity, a breakout or an increase in buying pressure. The market typically responds when trillions of tokens lawfully depart exchanges for whale wallets or cold storage: spreads widen, volume increases and price momentum quickens. None of that occurred here. HOT Stories BREAKING: Strategy Announces Biggest Bitcoin Purchase in Months Morning Crypto Report: XRP Rockets 625% Over Ethereum in ETF Inflows, Strategy Will Not Sell Bitcoin Until 2065: CEO, Shiba Inu (SHIB) Finally Ready to Delete a Zero XRP Poised for 16% Move on Triangle Breakout McGlone: Bitcoin Likely Below $84K by Year-End Shiba Inu stays down This disconnect is validated by the volume profile. There is no corresponding spike in trading volume on the four-hour and daily charts that would support, or indicate, actual accumulation of this magnitude. Rather, despite brief stabilization, SHIB is consolidating under major moving averages (50-, 100- and 200-period), and is obviously still stuck in a longer-term downtrend. Advertisement Investors are left with two reasonable interpretations of this: an anomaly in tracking or reporting, which frequently occurs when on-chain analytics incorrectly aggregate large wallet cluster movements; or misclassified, user-driven outflows. Iinternal exchange rearranging is also very prevalent in SHIB’s dispersed liquidity environment. The lesson for SHIB holders is straightforward: the 33 trillion print should not be interpreted as a secret whale signal. The asset still lacks the volume required for a clear trend reversal, is still building a base and is still having trouble regaining moving averages. Nothing on the charts indicates that this outflow event served as the catalyst for a recovery, even though the market structure is improving. #Shiba Inu #Shiba Inu (SHIB) News