What to Know
- Shiba Inu triggered seven bullish on-chain signals as declining exchange reserves and negative netflows pointed to growing investor accumulation despite weakness.
- Active addresses increased while exchange withdrawals exceeded deposits, suggesting stronger network participation and rising preference for holding SHIB off exchanges.
- SHIB remains below major moving averages, although a recovering RSI indicates weakening bearish momentum alongside improving blockchain activity and accumulation.
Shiba Inu has triggered seven bullish on-chain signals despite remaining under price pressure. According to CryptoQuant data, the latest blockchain metrics point to growing accumulation as investors move tokens away from exchanges and network activity improves, even though SHIB continues trading below major technical resistance levels and selling pressure has yet to fully subside.
Exchange Data Points to Growing Holder Confidence
Declining exchange reserves remain one of SHIB’s strongest bullish signals, as lower reserves generally indicate fewer tokens are available for immediate selling, reducing potential market supply.
Moreover, Exchange Netflow remains negative at approximately 64.8 billion SHIB. That reading shows more tokens are leaving exchanges than entering them, a pattern commonly associated with accumulation.
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Network activity has also strengthened, with Active Addresses increasing by more than 1% over the past day, reflecting stronger user participation despite the token’s weak price performance. Additionally, exchange withdrawals exceeded deposits by a considerable margin, with around 250.2 billion SHIB leaving exchanges while roughly 185.4 billion SHIB entered trading platforms.
That imbalance suggests investors are choosing self-custody instead of positioning their holdings for sale.
Exchange Inflow Mean and Exchange Outflow Mean also support the broader trend. Although both averages increased, larger average outflow transactions indicate bigger holders continue removing significant amounts of SHIB from exchanges. Together, these indicators account for six of the seven bullish signals currently supporting SHIB.
Technical Resistance Still Caps Price Recovery
Despite improving blockchain activity, SHIB’s technical outlook remains cautious. The token continues trading below its 50-day, 100-day, and 200-day moving averages, leaving important resistance levels intact.
However, the Relative Strength Index has climbed out of oversold territory and continues recovering. That improvement represents the seventh bullish signal, suggesting bearish momentum has started weakening even though buyers have not regained full market control.
Source: Tradingview
Meanwhile, exchange reserve value measured in U.S. dollars has declined alongside SHIB’s market price, while exchange inflows remain relatively elevated. Consequently, SHIB has yet to confirm a broader technical recovery.
Conclusion
The latest blockchain metrics present a stronger outlook than SHIB’s price chart, with seven bullish signals pointing toward ongoing accumulation despite persistent market weakness. Although technical resistance continues limiting upside momentum, improving network activity and declining exchange balances indicate investor confidence remains stronger than recent price action suggests.
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