Shiba Inu (SHIB) is quietly showing signs of accumulation as millions of tokens continue to leave exchanges, even while prices remain stuck below key resistance levels. Over the past 24 hours, nearly 29.2 million SHIB tokens were withdrawn from centralized trading platforms, a move that suggests investors may be positioning for a potential supply squeeze once market conditions improve.
According to data cited by The Crypto Basic and highlighted in KuCoin’s latest flash update, exchange reserves dropped from 82,066,732,850,077 SHIB to 82,066,703,680,231 SHIB in just one day. During that period, withdrawals totaled roughly 256 billion SHIB, while deposits reached only about 183.5 billion. In simple terms, more tokens left exchanges than entered them, reinforcing the idea that holders are moving SHIB into self-custody rather than preparing to sell.
This behavior often signals a longer-term mindset. When investors shift assets off exchanges, it reduces the immediate supply available for trading, which can lower selling pressure. If demand returns suddenly, that tighter supply can sometimes lead to sharp price movements, a setup traders often refer to as a “float squeeze.”
Alongside these outflows, on-chain activity has shown modest improvement. Active SHIB addresses rose by 0.83% to 195, while active receiving addresses increased 1% to 131. Total daily transactions climbed to 5,863. KuCoin described these figures as “signs of life in the Shiba Inu ecosystem,” even though the token has yet to stage a meaningful technical breakout.
Price action, however, remains cautious. SHIB continues to trade below important resistance levels, and recent technical analysis has warned that failure to reclaim its trading range could leave the token open to a deeper correction if broader market conditions weaken.
The wider crypto market provides a mixed backdrop. Bitcoin is hovering near $88,400, struggling to push decisively above the $90,000 mark that has capped several recent rallies. Ethereum is trading around $2,911, up about 0.7% over the past day after bouncing off intraday support. Elsewhere, XRP sits near $1.885, BNB around $883, and Solana close to $123.65, with most major tokens posting modest gains between 0.1% and 1.4%.
Despite these small advances, overall sentiment remains fragile. KuCoin’s daily market report notes that sentiment has only improved from “Extreme Fear” to “Fear,” with no clear return of strong risk appetite toward higher-volatility assets. That cautious mood helps explain why SHIB’s accumulation is happening quietly rather than through explosive buying.
For now, Shiba Inu appears to be in a waiting phase. Exchange outflows, rising activity, and steady self-custody suggest investors are building positions while the market searches for direction. Whether this setup leads to a breakout or simply cushions the next downturn will likely depend on broader market momentum in the days ahead.
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