Shiba Inu recorded gross exchange inflows of about 2.4 trillion SHIB in 24 hours, yet netflow came to only around 22.6 billion tokens. The price climbed from about $0.0000042 to $0.0000054 over the same stretch, and market reports point to South Korean retail activity as one of the primary catalysts.
The 2.4 trillion SHIB that moved into tracked exchange wallets over the last 24 hours reads like a wall of sell-side supply, and it is not one. Approximately 2.376 trillion tokens left trading platforms at the same time as exchanges received about 2.399 trillion SHIB, which left netflow at around 22.6 billion SHIB.
Gross inflows mask two-way movement
Nothing in the data indicates that a single identifiable whale made the full deposit. Instead, the transfers most likely came from traders, market makers, and large holders shifting positions during the rally.
Because the two directions nearly cancelled out, SHIB’s price response matters more than the headline figure. Buyers absorbed the available supply and drove the token through its short-term moving averages in spite of the high deposits. The daily chart shows a test of the 200-day average near $0.0000050 after a volume-backed breakout above the 50-day and 100-day averages.
Korean demand meets a historical low in exchange reserves
Market reports currently available name South Korean retail activity as one of the primary catalysts. Crypto Briefing noted that activity on Upbit had previously become comparable to Binance and attributed a large portion of the rally to unusually high demand from Korean traders. That report also cited recent whale accumulation as a contributing factor.
A limited supply of liquid tokens could have intensified the action. Centralized exchange reserves have dropped to about 86.1 trillion SHIB, a historical low, according to CoinMarketCap’s market summary. When fewer tokens remain easily accessible for trading, a sudden spike in demand may result in a disproportionately large price response.
Burns and whale positioning among the likely explanations
Increased burn activity and a resurgence of interest in Shibarium are additional secondary factors. SHIB’s burn rate had risen before the breakout and network activity was also improving, yet the amount burned alone cannot explain a double-digit daily rally because it is still too small in comparison to the circulating supply.
Whale positioning, decreased exchange liquidity, short covering after SHIB broke technical resistance, and Korean-led speculative demand are therefore the most likely explanations. As of now, there is no solid proof that a single entity caused the entire inflow.
That same exchange activity now carries risk. High gross inflows indicate holders have transferred a significant amount of inventory into positions that can be traded right away, and the RSI surge above 78 suggested overheated short-term conditions. Profit-taking may occur soon unless demand stays high.
Source: U.Today
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