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Shiba Inu is showing an extraordinary sign of strength. Exchange data shows a large amount of SHIB leaving trading platforms, and the price is holding up at $0.00000514, up 3.92% in 24 hours.
Is the pressure decreasing?
Netflow, which is coins entering exchanges minus coins leaving them, reads negative 32.76 billion SHIB. A negative number means more tokens went out than came in. Holders usually move coins off exchanges to keep them in private wallets, so this often points to less selling pressure.
The reserve chart supports this. Total SHIB on exchanges fell sharply in the middle of the last seven days and has stayed low since. The reserve now sits at 87.09 trillion tokens and moved just 0.02% in 24 hours, so the drop has not reversed.
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Network use is growing too. Active addresses grew 1.01% to 165,200, and the chart shows a clean jump at the end. More people using the chain while coins leave exchanges is a better mix than outflows alone.
SHIB climbed from a low near $0.00000494 and now trades near the top of its daily range. Over four hours, it is flat, down 0.10%.
The bigger picture remains weak. SHIB is down 15.31% over 180 days, 25.50% this year and 50.19% over one year. The 90-day gain of 24.23% shows buyers are slowly coming back.
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Derivatives look calm. Liquidations were only $28,800 in 24 hours, and $26,230 of that was shorts. Bears got hurt more than bulls. On OKX, the long/short ratio is 2.79, so traders there lean long. Futures volume is small, with OKX at $9.01 million, LBank at $7.60 million and MEXC at $5.16 million. That means the move has little leverage behind it, which may be healthy but also means weak conviction.
Two things are really worth watching. First, whether netflow stays negative for days, because one big day may be one big wallet moving funds. Second, whether the reserve begins to rise, which could suggest holders are sending coins back to sell.
Where does the hope come from?
Less supply on exchanges, more active wallets and a price that is holding its gains. If outflows continue, SHIB could attempt to move toward $0.0000052, the top of its recent range. A drop below $0.00000494 could cancel the hopeful view.
Right now, the data leans positive, but SHIB needs more volume and steady buying to turn a small bounce into a real recovery.