Despite a 56% Surge in Memecoin Trading Volume...Shiba Inu's Net Inflow Remains 'Zero'

▲ Shiba Inu (SHIB)

The trading volume of the memecoin market surged by over 56%. However, Shiba Inu (SHIB) has fallen into a state of stagnation with net inflows approaching zero, raising concerns among investors.

According to a report by the cryptocurrency media outlet U.Today on April 22 (local time), the memecoin sector recently grew by approximately 15.58% in market capitalization over one month, reaching $35.6 billion. Notably, trading volume surged by 56.14% month-over-month, recording approximately $3.79 billion, demonstrating explosive investor sentiment. This figure surpasses Bitcoin's (BTC) growth rate of 14.06% during the same period, indicating that market capital is rapidly shifting towards more aggressive risk assets.

However, Shiba Inu, a prominent memecoin, appears to be excluded from this market trend. On-chain data analysis shows that net inflows to exchanges remain close to zero. This implies that whale investors and large capital have not set a clear direction, neither accumulating nor selling. Market participants are in a wait-and-see mode without strong conviction. This state of equilibrium is often interpreted as a precursor to significant volatility.

Shiba Inu's price movement has also been consolidating in a narrow range after a prolonged downtrend. The current price remains below key moving averages, making it difficult to conclude that the downtrend has completely reversed. While some indicators, such as the number of active addresses, show slight signs of improvement, they are insufficient to drive a trend reversal. Being sidelined from the center of the memecoin craze is causing relative deprivation for investors.

Experts advise that for Shiba Inu to succeed in a rebound, a clear accumulation phase must precede it. If the current neutral state of zero net inflow persists, even if an upward trend appears, its sustainability cannot be guaranteed. The possibility of funds flowing in late when the overall market momentum is alive cannot be ruled out. However, for now, Shiba Inu remains a bystander while other memecoins lead the rally.

Ultimately, Shiba Inu's direction depends on which way the neutral state breaks. It stands at a crossroads, either attracting speculative demand again or being sidelined by the indifference of whales. Investors are closely monitoring on-chain metric changes, waiting for the memecoin market's hot momentum to spread to Shiba Inu. As a major inflection point in the market approaches, a cautious approach is needed.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*