SHIB jumps 6% as exchange deposits rise, capping upside
Shiba Inu (SHIB) rose about 6% in the last 24 hours as on-chain activity improved. Active wallet addresses and SHIB transfers increased, suggesting renewed participation. Trading volume also picked up during the same window.
But exchange-side flows accelerated. SHIB total inflows and the 7-day moving average of deposits rose sharply, while exchange reserves in USD climbed. Netflows were still slightly negative, implying more SHIB moving onto exchanges than leaving them, a pattern traders often associate with near-term selling risk.
Technically, SHIB is still near local lows and remains below key moving averages. Price is consolidating under resistance with no confirmed sustained reversal. Traders may watch whether continued SHIB exchange deposits drive short-term volatility and pressure price further.
Neutral
On-chain metrics for SHIB turned more constructive, with higher active addresses and increased transfers. That supports the case for renewed attention. However, the exchange inflow picture is less supportive: deposits rose fast, netflows stayed slightly negative, and more SHIB appears to be moving to exchanges. This combination typically caps upside because it can translate into potential selling pressure.
For traders, the immediate impact is more about timing and volatility than a clean directional shift. In the short term, continued SHIB exchange deposits could pressure price and widen swings. In the longer term, a sustained recovery would likely require outflows to catch up (or deposits to cool) so the net balance stops deteriorating and the technical structure improves above key moving averages.