Shiba Inu Sees Spike in On-Chain Activity as 100 Billion Tokens Shift

Shiba Inu (SHIB) has recorded one of its busiest trading sessions in weeks, with more than 100 billion tokens moving across exchanges in just 24 hours. The sudden surge, highlighted by onchain data, reflects a 26% increase in overall exchange activity and suggests a change in market behavior.

Exchange Netflows Signal Investor Repositioning

On September 30, Shiba Inu logged a net inflow of 23.1 billion tokens onto centralized exchanges. This marks a stark departure from the muted activity observed in recent weeks. Analysts suggest that large holders may be preparing for short-term volatility or taking profits following recent price movements.

Despite the inflows, broader trends show that SHIB’s overall exchange reserves continue to decline, a sign that fewer tokens are available for trading. Historically, reduced reserves on exchanges have pointed to growing conviction among long-term holders, as more investors shift assets into self-custody rather than keeping them on trading platforms.

This dual trend—short-term inflows amid longer-term outflows—creates a complex picture of market sentiment, with traders weighing immediate volatility against longer-term confidence in SHIB’s potential.

Price Action Stuck in Narrow Range

Price action has remained subdued despite the spike in on-chain activity. SHIB is currently trading around $0.0000117, consolidating within a symmetrical triangle pattern that has been tightening over the past several weeks.

Support levels between $0.0000110 and $0.0000115 have so far prevented a major breakdown, but buyers have not been strong enough to push SHIB through its next major resistance zone at $0.0000128–$0.0000136. This resistance band is reinforced by the 100-day and 200-day exponential moving averages (EMAs), making it a critical barrier for bulls.

The Relative Strength Index (RSI) is hovering between 39 and 45, reflecting weak momentum, while trading volumes remain muted, underscoring the lack of conviction from both sides of the market.

What Comes Next for SHIB?

If SHIB continues to trade sideways without breaking above its resistance, it risks drifting lower toward the $0.0000100 support level. For a meaningful bullish reversal, the token would need to reclaim its moving averages and attract renewed inflows from traders and institutions.

On the other hand, the sharp increase in on-chain activity could be an early sign of accumulation ahead of a potential breakout. Historically, SHIB has seen sudden surges in volatility after long phases of compression, with whales often positioning themselves ahead of major moves.

Outlook: Cautious Optimism Amid Mixed Signals

While the spike in token transfers has caught market attention, SHIB’s stagnant price and low volume suggest the market is still in a wait-and-see mode. The narrowing triangle pattern points to an imminent breakout, but the direction remains uncertain.

For now, Shiba Inu’s near-term outlook depends on whether buyers can overcome resistance or if renewed selling pressure drags the token toward yearly lows. Until then, traders are bracing for volatility as SHIB sits at a critical juncture.