Key Takeaways
Shiba Inu’s on-chain metrics point to quiet accumulation, with long-term holders unmoved and exchange reserves dropping slightly. Although momentum indicators are cooling, SHIB continues to hold key support levels, hinting at a potential rebound if buying pressure returns.
Shiba Inu [SHIB] is entering an unusually quiet phase.
On-chain activity is muted, exchange reserves are slowly dropping, and long-term holders appear unfazed by the recent price volatility.
With older tokens dormant and fewer coins sitting on exchanges, could this cause a price rebound?
Dormant tokens signal conviction
According to Santiment, SHIB’s Age Consumed metric has plunged by 99.7% since mid-June, falling from to just $4.7 trillion.
This drastic decline suggests that long-term holders are choosing to sit still rather than sell into recent rallies.
Source: Santiment
SHIB’s previous price tops in May and early June coincided with sharp spikes in age consumed. But in July, despite the price touching $0.000015, older wallets remained inactive.
This behavior points to growing conviction among holders and reduces the risk of a sharp dump from legacy investors.
Exchange outflows hint at cooling sell pressure
Alongside dormant older tokens, SHIB also saw a steady drawdown in exchange-held supply.
From the 22nd of July to the 25th, Exchange Reserve dropped from 84.55 trillion to 84.35 trillion – a net outflow of 200 billion SHIB in just three days. At press time, it staged a mild recovery to 84.4 trillion.
Source: CryptoQuant
Though modest, this move indicates that some investors are pulling tokens off centralized exchanges, possibly into self-custody.
Usually, such withdrawals reduce short-term selling pressure and often precede periods of price stabilization or slow accumulation.
Combined with whale activity – like the recent 2.58 billion SHIB addition – this shift may be laying the groundwork for SHIB’s next price leg.
Momentum cools, but SHIB holds steady above key levels
After briefly rallying above $0.000015, the memecoin faced a sharp pullback but has since stabilized near the $0.000014 mark, at press time.
The RSI sat at 55.88, showing neutral momentum – neither overbought nor oversold.
Source: TradingView
Meanwhile, the MACD indicator showed a weakening bullish crossover, hinting at a slowdown in upside momentum.
Still, SHIB’s price has managed to hold above its July support, a sign of resilience despite profit-taking.
SHIB may be setting up for a more sustainable move… if buyers return with conviction in the days ahead.
