Shiba Inu is showing renewed demand signals after a period of elevated selling pressure, according to CryptoQuant data. Over the last 24 hours, SHIB's exchange netflow flipped bullish with more than 40.5 billion tokens moving off exchanges, suggesting buyers are accumulating rather than preparing to sell.
The shift is notable because previous days had recorded large positive netflow balances, often interpreted as rising sell-side pressure. Analysts are now watching whether the negative netflow can support another leg higher, with SHIB trading above the $0.000005 level since its mid-August breakout and potentially targeting $0.000006 if momentum holds.
From a technical perspective, the main demand zone sits between $0.00000488 and $0.00000505. Holding this area has kept the recovery structure intact, while a decisive break above $0.00000537 could open the path toward $0.00000568. A breakdown below $0.00000488, however, would weaken the bottoming setup and expose SHIB to a move toward $0.00000467. Market commentators such as Shib Spain have described the setup as a possible completed bottom, though confirmation still requires stronger buying above nearby resistance.
Burn activity remains mixed: about 3.59 million SHIB were burned in 24 hours, with daily burn volume down roughly 49.9% but weekly burn volume up about 119%. Broader Federal Reserve expectations continue to create uncertainty across risk-sensitive assets, so sustained buying participation remains important for any continued recovery.
