On‑chain data shows $716 million mark‑to‑market of Shiba Inu (SHIB) on centralized exchanges, but true usable liquidity is estimated at roughly $100–200 million because of thin order books and severe slippage risk. SHIB has seen short relief buys and brief moves above short‑term moving averages, yet it remains below mid‑ and long‑term EMAs with low supportive volume. Exchange reserves continue to rise with no clear, persistent outflows, indicating opportunistic trading rather than accumulation. The token is vulnerable until reserves decline and price holds above key moving averages with volume support.

On‑chain shows $716M of SHIB on exchanges (mark‑to‑market) while usable liquidity is estimated at $100–200M due to thin order books and slippage; price remains below mid/long EMAs and lacks volume-backed conviction; exchange reserves are still rising with no sustained outflows — facts that support a bearish view and moderate market impact for short-term traders.