Shiba Inu (SHIB) climbed about 6.01% over the last 24 hours and traded above $0.00000609, while trading volume also increased sharply in the same period. The move has drawn attention back to SHIB, yet the broader reading stays mixed because exchange transfer data has also accelerated, especially on the inflow side, keeping near-term selling pressure firmly in view.
Network activity picks up as active addresses increase
A growing number of active addresses shows that users are participating in SHIB transactions again. At the same time, more tokens have been moving out of exchanges, a pattern often associated with assets being shifted into private wallets and with accumulation behavior. Short point. The dollar value of SHIB reserves held on exchanges has also risen, indicating that more capital is circulating around the SHIB market and that trader interest has improved.
Still, the signal is not cleanly bullish. Inflows and outflows have been rising together, which suggests the recent burst in activity may reflect short-term positioning rather than a clear turn toward long-term holding. Interest is back, but conviction remains harder to confirm.
Exchange inflows rise and cap bullish sentiment
Recent data shows a notable increase in the amount of SHIB being sent to exchanges. Both total inflows and the seven-day moving average for transfers have moved higher. Traders often read this as preparation for selling, since tokens transferred onto exchanges can precede spot market distribution. Higher withdrawals may usually support a constructive view, but stronger deposits have reduced that effect.
The report also says the net buy-sell balance remains negative, with a substantial increase in SHIB entering exchanges in recent periods. Analysts see that shift as a sign that short-term downside pressure could intensify. The price has bounced, but the market is still dealing with supply moving closer to venues where it can be sold.
Technical picture stays weak near local lows
On the technical side, SHIB continues to trade near local lows and remains below major moving averages. There is still no decisive signal of a sustained recovery. Price action is consolidating under key resistance levels, and the market has yet to show a clear reversal structure.
That leaves SHIB in a cautious position. Stronger network participation and heavier trading volume point to renewed attention, but those metrics on their own are not enough to support a lasting bullish case. At the same time, indicators tied to exchange deposits continue to suggest possible selling pressure, leaving the token caught between rising activity and a still-muted market outlook.