Shiba Inu posted a modest 2.57% gain over the past 24 hours, slightly edging out the broader cryptocurrency market’s 2.3% rise. While this uptick momentarily halts a recent weekly downtrend, it remains consistent with a stronger positive trajectory observed on the monthly chart. The price movement appears to be driven by a confluence of on-chain behavior, whale activity, and technical indicators pointing to oversold conditions.
On-chain data from January 26, 2026, reveals a significant net outflow of approximately 72.5 billion SHIB from centralized exchanges—far exceeding the 29.2 billion SHIB decline in exchange reserves reported over the same period. This sustained withdrawal trend, now entering its seventh consecutive day, suggests that holders are moving tokens into private wallets, thereby reducing the pool of readily sellable supply. Such behavior typically signals a shift toward longer-term holding strategies, which can ease immediate downward pressure on price and create a more favorable environment for potential appreciation if demand reemerges. Market participants should watch whether this outflow pattern continues; any reversal could hint at renewed selling interest.
Adding intrigue to the market narrative was a mysterious transaction involving a wallet identified as 0x519Fe, which rapidly moved 61.6 billion SHIB—valued at roughly $500,000—through Coinbase’s hot wallet before returning to a zero balance within hours. The intent behind this round-trip maneuver remains unclear, but notably, it did not trigger a sell-off. Such large-scale movements often spark speculation: they may reflect strategic repositioning by a whale, liquidity testing, or even an aborted distribution attempt. The fact that SHIB’s price held steady afterward suggests the market absorbed the activity without panic, possibly even fueling short-term speculative interest.
From a technical standpoint, Shiba Inu had been trading in oversold territory, with its 14-day Relative Strength Index (RSI) dipping to 39.1—just shy of the classic 30-level threshold but low enough to signal exhausted selling momentum. Price has been consolidating near the psychologically and technically significant support level of $0.0000075, which has withstood multiple tests in recent sessions. This zone likely attracted bargain hunters seeking a bounce, contributing to the recent recovery. However, the token remains below key moving averages, including the 30-day simple moving average at $0.00000816, underscoring that the broader trend is still fragile. A decisive break above this SMA would be needed to confirm a more robust short-term bullish shift.
In sum, Shiba Inu’s recent uptick stems from reduced liquid supply on exchanges, heightened attention from anomalous whale behavior, and a technical rebound from oversold levels. For the average holder, this suggests that immediate selling pressure has eased—but a durable reversal will require sustained buying volume and a clear move above critical resistance. All eyes are now on whether SHIB can defend the $0.0000075 support and muster enough momentum in the next 48 hours to challenge the 30-day SMA.
