News View Non-AMP

3.3 Trillion SHIB Leaves Exchanges, Are Whales Buying?

Published by
Chandan Gupta

Shiba Inu (SHIB), the popular and second-largest crypto meme coin by market cap, is poised for upside momentum as whale interest in the meme coin skyrockets. Despite the recent price decline across the cryptocurrency market, whales’ interest and confidence in SHIB remain unchanged, according to an on-chain analytics report by Coinglass.

3.3 Trillion SHIB Withdrawn From Exchanges

Data from the SHIB spot inflow/outflow metrics revealed that exchanges have witnessed a significant outflow of 3.3 trillion SHIB tokens, worth over $93.3 million. This substantial outflow reflects the growing interest of whales in the meme coin.

The term outflow in the cryptocurrency industry refers to the movement of assets from exchanges to wallets, indicating potential upside momentum and signaling a buying opportunity. Additionally, whenever outflow increases, it reduces selling pressure and the likelihood of a price decline for the asset.

Shiba Inu (SHIB) Technical Analysis and Upcoming Level

These bullish on-chain metrics are further supported by SHIB’s technical analysis. According to expert technical analysis, SHIB appears to be gaining upside momentum, as it is currently struggling near the crucial support level of an inclined trendline.

Historically, whenever the meme coin reaches this support level, it tends to experience upside momentum, and experts are speculating a similar rally in the coming days.

Based on the recent price action, if SHIB stays above the $0.000025 level, there is a strong possibility it could soar by 40% to reach the $0.000039 level in the coming days.

On the positive side, SHIB’s Relative Strength Index (RSI) currently stands near 52, which is below 70, indicating that it is not in the overbought zone. This suggests that the asset has enough potential to soar in the coming days.

Current Price Momentum

Currently, SHIB is trading near $0.00002838 and has registered a price decline of over 2.50% in the past 24 hours. During the same period, its trading volume dropped by 30%, indicating lower participation from traders and investors compared to the previous day.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Where to Buy Influencer Pepe Before It Hits Major Exchanges!

A new meme coin that is gaining significant attention in the cryptocurrency market is Influencer…

March 31, 2025

Bitcoin (BTC) Drops Toward Range Lows While Whales Accumulate a New Token Priced at $0.025

While Bitcoin hovers near its recent range lows, a quiet shift is taking place in…

March 31, 2025

Dogecoin is Facing Rising Bearish Threat as It Drops Toward $0.16: Will Buyers Bounce Back?

Dogecoin has experienced a significant decline in the past few hours, facing a sharp selloff…

March 31, 2025

ICB Labs Expands Global Presence with Strategic Partnerships, Staking Opportunities, and Upcoming DEX Launch

ICB Labs continues its global expansion, strengthening its blockchain ecosystem through strategic collaborations, enhanced staking…

March 31, 2025

Best Crypto to Invest in if You Want Become A Crypto Whale: Top 3 Crypto Investments of 2025

Are you a crypto newbie who wants to become a crypto whale? If so, you've…

March 31, 2025

Remittix Raises Over $14 Million in Record Time as Presale Is Predicted to Be the Best of 2025

The crypto landscape has been stunned by the rapid success of Remittix which obtained over…

March 31, 2025