SHIB: 131.88B-Token Exchange Drain Lines Up With RSI/MACD Divergence Below May Trendline
Netflow data shows 131.88B SHIB left exchanges in 24h as RSI and MACD print higher lows against a lower price low, testing the May downtrend.
SHIB order books shed 131.88 billion tokens in net outflows over the past 24 hours, per CryptoQuant exchange netflow data, with withdrawals outpacing deposits by that margin. Price sits at $0.00000437, up roughly 2% on the session. The scale of the outflow is the standout data point: a single-day netflow of this size typically reads as supply moving into self-custody rather than repositioning for a sell-into-strength scenario.
Momentum Structure: Higher Lows Against Lower Price Lows
The netflow shift lands alongside a divergence forming on both RSI and MACD. SHIB bottomed at $0.00000430 on June 6, dragging daily RSI to 20 — deep oversold territory. Price then carved a fresh low of $0.00000405 on June 26, but RSI failed to confirm, printing 21.44 instead of a lower reading.
That gap — lower price low, higher RSI low — is the standard bullish divergence pattern traders watch for exhaustion signals in a downtrend. MACD traced the identical higher-low structure across the same window, and its histogram flipped from red to green, with bars extending longer than any printed since March.
Trendline From the May High Under Pressure
SHIB has been contained by a descending trendline stretching back to the May high of $0.00000670, with every rally attempt since rejected at that resistance. Spot price at $0.00000437 now sits close enough to retest that line. A daily close above it would mark the first structural break since May.
Immediate upside reference is the June high of $0.00000558, about 28% above current spot. Clearing that level would open room toward the May high of $0.00000670 — a 53% move from current pricing.
Reading the Netflow Against the Indicator Signal
Divergence on RSI and MACD is a lagging confirmation tool on its own, not an entry trigger. The 131.88 billion netflow figure adds weight to the setup by showing actual supply reduction on exchanges rather than isolated indicator noise — a large absolute figure even accounting for SHIB’s total supply.
The setup remains conditional pending a daily close above the descending trendline. That close is the level separating a genuine shift in structure from another rejection inside the channel that has held since May.
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