Shiba Inu continues to show signs of underlying strength despite muted price movement. Recent on-chain data suggests investor behavior is shifting toward accumulation rather than distribution. At the same time, network activity points to renewed engagement across the ecosystem. Together, these signals support bullish sentiment even as consolidation persists.
Exchange Reserve Decline Signals Accumulation Trend
On-chain data from CryptoQuant shows that Shiba Inu exchange reserves declined over the past 24 hours, reinforcing signs of accumulation. According to the platform, 29,169,846 SHIB exited centralized exchanges during the period. Exchange-held reserves fell from 82,066,732,850,077 SHIB on January 25 to 82,066,703,680,231 SHIB at press time.
CryptoQuant’s trending metrics further confirmed the movement, reporting a 0.09% drop in exchange reserves over 24 hours. The data also showed that reserves remained in a broader seven-day downtrend. The declining reserves are a sign that holders move tokens off exchanges to reduce exposure to short-term selling.
Flow data added more context to the trend. Total exchange outflows reached 256 billion SHIB, while inflows stood at 183.5 billion SHIB. The imbalance indicated that withdrawals significantly exceeded deposits. Such behavior typically reflects a preference for self-custody rather than active trading. As a result, immediate sell-side pressure often weakens under these conditions.
Network Activity Shows Rising User Engagement
Beyond exchange flows, Shiba Inu also recorded improvements in core network metrics. CryptoQuant data showed active addresses increased by 0.83% to 195. Active receiving addresses also rose by 1% to 131, signaling broader participation.
Transaction activity supported this trend. Total transaction count climbed to 5,863, aligning with the increase in active addresses. Health often links rising transactions to renewed user interest and ecosystem usage.
These metrics may not trigger immediate price movement. However, sustained growth in participation often lays the groundwork for future shifts. When broader crypto market conditions stabilize, such engagement could amplify price reactions.
According to on-chain analysts, reclaiming key moving averages remains critical for any breakout attempt. Still, the current data suggests Shiba Inu’s ecosystem shows resilience during consolidation. The combination of declining exchange reserves and improving network activity continues to support a constructive outlook for the meme coin in the near term.
At the time of writing, Shiba Inu trades at $0.00000776, up 2.37% in the past 24 hours.
Source: https://coinpaper.com/14042/shiba-inu-price-holds-steady-as-exchange-reserves-drop
