SHIB Price Surges on Strong Demand and Whale Accumulation

The Shiba Inu (SHIB) price saw a significant surge over the past 24 hours, with gross exchange inflows reaching approximately 2.4 trillion tokens. Despite this influx, the data does not indicate that a single whale was responsible for the entire deposit.

Exchange wallets received these inflows, which is likely due to traders, market makers, and large holders shifting positions during the rally. However, differentiating between inflow and netflow is crucial, as about 2.376 trillion tokens simultaneously left trading platforms, despite exchanges receiving around 2.399 trillion SHIB.

As a result, the netflow was only around 22.6 billion SHIB. This means that instead of an additional 2 trillion tokens of sell-side supply, the headline figure shows strong two-way movement. Buyers absorbed the available supply and drove the token through its short-term moving averages despite the high deposits.

The daily chart displays a test of the 200-day average near $0.0000050 after a volume-backed breakout above the 50-day and 100-day averages. Strong momentum was confirmed by the RSI surge above 78, which also suggested overheated short-term conditions.