Investors Ponder Shiba Inu's Stalled Breakout Amid Growing Exchange Inflows

Shiba Inu (SHIB) has shown mixed on-chain signals as exchange inflows continue to rise, potentially acting as a headwind for further price appreciation. Despite a recent uptick in trading activity and a modest increase in wallet balances, key technical indicators suggest that upward momentum could be stymied by the 100-day exponential moving average (EMA), a critical resistance level. On-chain data from the past two weeks indicates a steady flow of SHIB tokens into exchange wallets, raising concerns among investors about increased selling pressure. According to blockchain analytics firm Chainalysis, the net outflow from custodial wallets has reversed, with a 14% increase in deposits over the last week.

The recent rise in exchange inflows comes amid a broader market correction in the altcoin sector. While SHIB’s price has edged higher in the past month, the overall volume of transactions has remained relatively flat, suggesting that retail buying pressure has not significantly intensified. A report from IntoTheBlock highlights that the average holding time for SHIB has decreased by nearly 20%, indicating a shift in investor sentiment toward short-term trading strategies. This trend could exacerbate volatility and limit the potential for sustained bullish momentum.

Technical analysis further reinforces caution among traders. The 100-day EMA, currently positioned at $0.0000187, has acted as a recurring resistance point over the past few months. Analysts at Bitwise Capital note that SHIB has attempted to break above this level multiple times but has faced consistent sell-offs, particularly when the price reaches that threshold. The persistence of this resistance suggests that institutional or large-cap investors may be strategically accumulating at lower levels, using the EMA as a psychological ceiling to execute sell orders.

On-chain metrics also reveal a growing concentration of SHIB tokens in the hands of long-term holders. Data from Glassnode shows that the proportion of SHIB held in wallets with a holding period of more than 180 days has increased by 8% year-to-date. This trend could indicate a transition toward more stable ownership structures but may also limit liquidity in the short term, especially if these holders decide to move their tokens en masse.

Market observers remain divided on SHIB’s near-term outlook. While some bullish analysts argue that the recent on-chain activity signals the start of a new accumulation phase, bearish traders warn that the combination of rising exchange inflows and unresolved EMA resistance could lead to a pullback in the coming weeks. A survey by Coindesk among 200 crypto analysts found that 58% expect SHIB to consolidate around the $0.000018 level before making a decisive move in either direction. As the market continues to assess the token’s fundamentals and technical setup, investors are advised to closely monitor both inflow patterns and key resistance levels for directional clues.