Despite the overall sluggish performance of the cryptocurrency market recently, Shiba Inu (SHIB) has shown strong signs of accumulation. Data indicates that over 131 billion SHIB tokens were withdrawn from exchange addresses in the past 24 hours, resulting in a significant negative net outflow, suggesting that a large number of holders are accumulating during this price dip rather than selling.
Currently, the price of SHIB is approximately $0.00000528, having dipped 1.64% in the last 24 hours. However, this price decline has not deterred buyers from entering the market. On the contrary, the ongoing net outflow from exchanges has formed a trend over several days, reflecting a shift in market sentiment from pessimism to cautious optimism, with investors more inclined to accumulate at lower levels.
Meanwhile, the derivatives market for SHIB has also become active. In the past day, its Open Interest grew by 2.24%, surpassing a total of 10.09 trillion SHIB, indicating that futures traders are establishing new positions. Notably, the SHIB futures trading interest on the MEXC platform saw the most significant increase, reaching 28.03%, becoming a major driver of growth in derivatives.
Overall, although SHIB has not managed to escape price pressure in the short term, the simultaneous rise in net outflows from exchanges and derivatives positions corroborates the strengthening underlying demand in the market. This pattern of “buying the dip” often signals that potential rebound momentum is building.