Shiba Inu Spot Flows Surge 658% as SHIB Activity and Open Interest Rise
Shiba Inu (SHIB) recorded a 658% spike in spot net flows over a 12-hour period, according to CoinGlass. Spot inflows were $2.52 million and outflows $2.25 million, producing a net inflow of approximately $268,940 and a 658.56% netflow increase. The surge coincided with a broader market recovery that pushed most crypto assets back into positive territory. SHIB price rose about 2.65% in 24 hours to $0.000005437 at the time of reporting and briefly reached $0.00000587 on March 4. Open interest in SHIB increased 9.39% in 24 hours to $62.98 million, indicating rising leverage and trader positioning. Technicals show contracting weekly Bollinger Bands, suggesting consolidation ahead of a possible significant move. Near-term resistance levels are $0.00000587 and $0.00000653, with support around $0.00000526. Traders should also watch upcoming U.S. economic data (CPI, Core CPI, PCE, JOLTs) as macro releases could sway market sentiment and rate-cut expectations.
Bullish
A large net spot inflow (658% spike) combined with rising open interest (+9.39%) typically signals increased buying interest and leveraged exposure, which can be bullish for near-term price action. The SHIB price reversed recent losses and is trading higher, supporting a positive short-term outlook. Contracting weekly Bollinger Bands imply consolidation that often precedes a breakout; with net inflows and added leverage the breakout bias favors the direction of inflows — here, upward. However, the absolute net inflow ($268,940) is modest relative to market size, so while trader activity and leverage increase the likelihood of rally attempts, the move may be volatile and sensitive to macro drivers. Key risk factors include broader crypto market trends and upcoming U.S. economic data (CPI, Core CPI, PCE, JOLTs) that could quickly flip sentiment. Historically, similar spikes in spot flows and rising open interest have preceded short-term rallies in altcoins but sometimes also led to sharp retracements when leverage unwinds, so traders should use tight risk management and watch volume and funding rates.