Shiba Inu sees rising exchange outflows and increased network activity

Shiba Inu (SHIB) has shown signs of easing selling pressure as exchange outflows increased over a 24-hour period. Data indicates a negative netflow of approximately 32.76 billion to 33.94 billion SHIB, meaning more tokens left exchanges for private wallets than entered them.

While the token's price saw a short-term rebound of nearly 4% to $0.00000514, analysts note that a sustained recovery is not yet confirmed. Long-term returns remain negative, and limited derivatives liquidations suggest that market-wide conviction and leverage remain modest.

On-chain metrics show active addresses rose by 1.01% to 165,200. Although exchange reserves remain high at roughly 87 trillion SHIB, the recent decline in reserves suggests increasing demand, though this does not guarantee an imminent price increase.