Recently, an interesting phenomenon has appeared on the SHIB blockchain—3.24 trillion tokens suddenly flowing into exchanges in large quantities. This number, when converted to USD market value, is close to $3 million, which is indeed a significant scale. Discussions within the community have also intensified, with some calling for a rush, while others are tightly holding onto their wallets, and the backend messages are exploding with information.

Let's first look at the current technical situation. SHIB is currently oscillating around the $0.000009 level, with the RSI indicator staying at 44.1, indicating a neutral zone, and no clear directional trend from a technical perspective. There is a support level at $0.000008, and resistance at $0.000010. Whether these levels can be broken will directly influence the subsequent trend.

Returning to the abnormal movement of 3.24 trillion tokens, there are many speculations in the market. My judgment is that this is more likely a tactical rebalancing by large on-chain whales rather than panic selling. Why? Recent on-chain data actually reflect another signal—that SHIB whales are increasing their holdings, with the weekly holdings still expanding. If it were a large-scale withdrawal driven by bearish sentiment, the holdings data should be decreasing, but that is not the case.

This change in capital flow usually has two reasons: one is that whales are adjusting their position structure, and the other is that they are utilizing exchange liquidity depth for partial trading. In the short term, such large-scale capital movements will inevitably cause volatility, and this risk should be clearly recognized. It is recommended to continue observing the support and resistance levels on the technical chart, avoid being scared by short-term fluctuations, and also avoid blindly chasing after price surges.