Shiba Inu Stalls as Exchange Reserves Freeze, Market Awaits Breakout

Shiba Inu (SHIB) is entering an unusually quiet phase, with exchange reserves showing no movement over the past 24 hours.

According to on-chain data, reserves recorded a 0% change, signaling neither inflows nor outflows from major platforms. This rare stasis breaks from the norm, as exchange activity is typically a leading indicator of price swings.

SHIB Hovers Near Key Technical Support

At the time of writing, SHIB is trading at $0.0000119, hovering at the lower boundary of a symmetrical triangle pattern that has been forming for several months. The setup reflects a tightening consolidation range, where rising support meets falling resistance.

The fact that SHIB is testing its lower trendline suggests that the token is approaching a decision point. A bounce from current levels could set up a fresh rally, while a breakdown would likely invite further selling pressure.

Market Sentiment Remains Hesitant

Despite the frozen exchange reserves, on-chain activity shows minor signs of life. Transaction counts rose by 1.24% and token transfers increased by 1.48%. However, these movements have had little effect on overall price action, which remains subdued.

Trading volumes continue to decline, underlining the cautious mood of the market. The Relative Strength Index (RSI) is currently at 41, reflecting a slight bearish bias. Analysts note that SHIB would need to reclaim key moving averages—the 50, 100, and 200-day EMAs—to shift momentum in favor of the bulls.

Failure to do so could put the $0.0000110 support level at risk, opening the door to a further drop toward $0.0000090.

A Balancing Act Between Buyers and Sellers

The current lull highlights a market caught in a tug-of-war, with buyers and sellers reluctant to take aggressive positions. Such phases of indecision rarely last long, often giving way to bursts of volatility once the consolidation range breaks.

If SHIB manages to maintain support and attract renewed demand, a breakout toward the $0.0000130–$0.0000140 range could come into play. On the other hand, sustained weakness below $0.0000110 would confirm bearish dominance, potentially pushing the token to revisit yearly lows.

Outlook: Calm Before the Storm?

While SHIB’s inactivity may seem uneventful, it often precedes decisive moves in either direction. With technical patterns nearing completion and traders closely monitoring support levels, the market is bracing for a potential spike in volatility.

For now, Shiba Inu remains in limbo, with its next move likely to define whether the token continues its consolidation or begins a new trend altogether.