Shiba Inu put in a session that chart watchers won’t easily ignore. Roughly 81 billion SHIB moved in the last 24 hours, and more tokens left exchanges than came onto them. Meanwhile, the price rose 3.92% and held at $0.00000514.
It was a solid day. Still, a single strong session isn’t a recovery, and the numbers for the past year remain weak.
Tokens are flowing off exchanges
Netflow is the figure that matters most here. It measures coins moving onto exchanges minus coins moving off them. The reading was negative 32.76 billion SHIB, which means outflows came out ahead.
When holders move tokens off exchanges, it’s usually because they want to keep them in private wallets instead of selling. That’s why a negative netflow is often read as a sign of easing sell pressure. Often, but not every time.
The reserve data supports this view. Total SHIB on exchanges fell steeply partway through the last seven days and has stayed down since. The balance now stands at 87.09 trillion tokens, and it moved only 0.02% over 24 hours, so the lower level is holding.
Wallet activity picked up too
On their own, outflows might just be one whale reorganizing its holdings. This time, though, network activity climbed alongside them. Active addresses rose 1.01% to 165,200, and the chart shows a clear jump toward the end of the period.
Rising on-chain usage paired with coins leaving exchanges paints a healthier picture than either signal would alone.
As for price, SHIB bounced from a low around $0.00000494 and is now trading close to the top of its daily range. On the four-hour chart, however, it’s essentially flat, down 0.10%.
The bigger picture still looks rough
Here’s where the optimism needs to be tempered. SHIB has fallen 15.31% over 180 days, 25.50% year to date and 50.19% over one year. Anyone who bought a year ago has seen half their position vanish.
The lone bright spot is a 24.23% gain over 90 days, which hints that buyers are gradually returning.
Derivatives traders mostly stayed on the sidelines
Leverage had very little to do with this move. Liquidations over 24 hours came to just $28,800, with $26,230 of that from shorts, so bears absorbed more of the pain than bulls.
The long/short ratio on OKX sits at 2.79, showing traders there tilt long. However, futures volume is thin, at $9.01 million on OKX, $7.60 million on LBank and $5.16 million on MEXC.
That has two sides. A rally with little leverage behind it is less prone to collapsing in a wave of liquidations. It also shows that no one is placing large bets on it.
What could undo the bullish case
Two signals are worth tracking. First, whether netflow remains negative over several days, since one big day could simply reflect a single large wallet shifting funds. Second, whether the exchange reserve begins to rise, which might indicate holders are moving coins back to sell.
Should outflows continue, SHIB may try to push toward $0.0000052, the upper edge of its recent range. A drop below $0.00000494 would rule out the optimistic scenario.
For now, the data tilts positive. Even so, a 3.92% bounce on light futures volume is far from a recovery, and SHIB will need stronger volume and consistent buying before the $0.0000052 ceiling becomes a realistic target.