Shiba Inu's onchain data took a turn toward the bullish side in the last 24 hours, with net buying outpacing selling for the first time in days. According to exchange flow metrics, 106 billion SHIB tokens moved out of trading platforms — a move that typically signals holders are pulling supply into cold storage rather than preparing to dump.
The Exchange Flow Reversal
For much of the past week, SHIB had been bleeding into exchanges, a pattern that usually precedes price drops. That changed late Tuesday. Data from blockchain tracking tools showed the net flow flipping positive — meaning more tokens left exchanges than arrived. The shift wasn't marginal: the 106 billion SHIB outflow is one of the largest single-day withdrawals this month.
Exchange outflows are watched closely by traders because they reduce the amount of a token immediately available for sale. When millions or billions of tokens leave exchange wallets, it cuts down the so-called 'sell pressure' that can hold a price down.
What the Data Shows
The numbers come from onchain aggregators that monitor wallet addresses tied to centralized exchanges. The 24-hour snapshot showed that while some tokens still flowed in, the net result was decisively in favor of withdrawals. Onchain analysts consider such a pattern a leading indicator of bullish sentiment — at least in the short term.
It's not yet clear what triggered the outflow. No major announcements from the Shiba Inu team surfaced in the same period. The move appears to be driven by individual holders making a coordinated shift, possibly ahead of expected price movement or simply locking in positions after recent volatility.
Signs of Reduced Sell Pressure
With less SHIB sitting on exchange order books, sellers have fewer tokens to push onto the market. That dynamic can create a floor under the price, especially if buying demand holds steady. The token's price saw a mild uptick in the hours following the outflow, though it hasn't broken out of its recent trading range.
The broader crypto market has been mixed this week, with Bitcoin hovering near $60,000 and altcoins largely tracking sideways. In that context, a standalone bullish signal for Shiba Inu stands out — but whether it lasts depends on whether holders continue to withdraw or start sending tokens back in.
