Shiba Inu traded about 81 billion SHIB in 24 hours, and exchange data suggests more holders are moving coins off trading platforms. The token was near $0.00000514, up 3.92% over the day. That is not a huge move, but it is holding near the top of its recent range. The more interesting signal is in exchange flows.
Exchange Outflows Draw Attention
Netflow, which tracks coins entering exchanges minus coins leaving them, was negative 32.76 billion SHIB. A negative reading means more tokens left exchanges than arrived. Holders often move coins to private wallets when they do not plan to sell soon, so the number can point to lighter selling pressure. The reserve chart backs that up. Total SHIB on exchanges fell sharply in the middle of the last seven days and has stayed low. Reserves now sit at 87.09 trillion tokens, with only a 0.02% move in 24 hours. The drop has not reversed yet, though one large wallet could distort a single day of flows.
Network Activity Adds Support
Network use is also higher. Active addresses rose 1.01% to 165,200, and the chart shows a jump near the end of the period. More active wallets while coins leave exchanges is a better mix than outflows alone. SHIB climbed from a low near $0.00000494 and is trading near the top of its daily range. Over four hours, it is basically flat, down 0.10%. The longer trend is still weak. SHIB is down 15.31% over 180 days, 25.50% this year, and 50.19% over one year. A 90-day gain of 24.23% shows buyers are slowly returning, but it does not erase the larger drawdown.
Derivatives Stay Quiet
Derivatives activity looks calm. Liquidations were only $28,800 in 24 hours, and $26,230 of that came from shorts. Bears took more damage than bulls. On OKX, the long/short ratio is 2.79, so traders there lean long. Futures volume is small: OKX at $9.01 million, LBank at $7.60 million, and MEXC at $5.16 million. That means the move has little futures positioning behind it. It may be healthy, but it also suggests weak conviction.
What to Watch
Two things matter now. First, whether netflow stays negative for several days, because one big day may just be one big wallet moving funds. Second, whether exchange reserves start to rise again, which could mean holders are sending coins back to sell. If outflows continue, SHIB could test $0.0000052, the top of its recent range. A drop below $0.00000494 would cancel that hopeful view. For now, the data leans positive, but SHIB needs more volume and steady buying to turn a small bounce into a real recovery.
