Shiba Inu Network Activity Explodes 10x in Two Days Amidst Large-Scale Supply Redistribution

Shiba Inu's network activity has exploded over the past two days, with transactions increasing tenfold from around 3,600 on July 24 to more than 38,400 by July 26. This surge in activity is not typical of retail trading, but rather suggests a large-scale reshuffling of token supply.

The simultaneous rise across multiple network metrics indicates a major shift in market participation. Exchange inflows surged 323% to roughly 943 billion tokens on July 25, with exchange outflows increasing at nearly the same pace. Binance processed approximately 896 billion SHIB in withdrawals by July 26.

The near balance between inflows and outflows suggests a rapid redistribution of supply across wallets rather than a simple wave of selling. This behavior is consistent with institutional players or large holders adjusting their positions.

TradingView analyst Sabri remains bearish on SHIB, citing resistance at the $0.0000057621 level and sellers' control below the key $0.0000048764 threshold.