Nyaung Shwe is not only the largest city on Inle Lake and the gateway to the lake, but it is also a good starting point for cycling around the lake. In all directions, there are sights that can be explored on land. The east and the southwest side are the simpler tours. It can be difficult to get to the north.
Until the monastery of Shwe Yan Pyay, the track is still very pleasant, because it is completely straight and even after that it goes a bit further. However, the road to Aya Thar Yar is a challenge, especially with the bikes you can borrow at the hotels in Nyaung Shwe. They are usually simple bicycles with a maximum of 3 gears. If you are planning a tour in the north, you might want to look for a better bike first.
However, one also comes to the goal, albeit with some pushing. But you will be rewarded with a beautiful landscape, great views and at the end of a fast ride back to the valley. The route is not very popular with tourists, so most of the time you are alone with the locals, who are quite expressing their amusement about a tourist on a bike in this region. You can look forward to warm encounters with the locals.