Shiba Inu Surges 36% Amid Heavy Exchange Activity
Shiba Inu (SHIB) surged 36.34% after heavy on-chain exchange activity drove unexpected buying interest, despite selling pressure from 69 billion SHIB tokens moved to exchanges.
The move is supported by bullish momentum above the 20-day and 50-day moving averages, although overhead resistance and longer-term technical structure limit further upside.
Over 69 billion SHIB tokens were transferred to exchanges, signaling increased selling pressure, but demand rebounded, allowing Shiba Inu to reclaim a previous price high.