Shiba Inu Price Rebounds Amid Exchange Outflows and Rising Network Activity

Shiba Inu (SHIB) price has rebounded by 4.7% in the past 24 hours, driven by exchange outflows and rising user activity.

Data from CryptoQuant shows that a net total of 97,177,600,000 SHIB tokens flowed out of exchanges over the past 24 hours, indicating long-term holding intentions. This is interpreted as accumulation, reflecting confidence in SHIB’s mid- and long-term prospects.

The number of active addresses in the Shiba Inu ecosystem increased by 1.08% in the past 24 hours, reaching 150,375. Active sending addresses also rose by 1.17%, reflecting increased movement within the network. The overall growth aligns with ongoing adoption trends, as SHIB consistently adds between 5,000 and 12,000 new addresses monthly.

The current Shiba Inu price trades around $0.00000604, with immediate resistance near $0.00000616 and key support at $0.00000578. The RSI is near 53, slightly above the signal line, indicating improving bullish momentum.