Shiba Inu (SHIB) is witnessing soaring buyer interest due to the springing up of constantly higher lows.
Higher lows in the market often depict an uptrend or bullish momentum because buyers usually step in earlier than before, ensuring that the price does not drop to the previous low.
Given that higher lows illustrate a possible trend reversal and growing investor confidence, Shiba Inu might be eyeing reclaiming intraday resistance at $0.00001491.
At the time of this writing, SHIB was hovering around the $0.00001412 zone per CoinMarketCap data.
Shiba Inu Witnesses Steady User Activity as Coins Exit Exchanges in Droves
According to crypto evangelist Femifire, “Recent on-chain data for SHIB suggests large investors may be accumulating tokens. A key indicator is the -34.1 trillion SHIB netflow from exchanges, signaling a shift toward long-term holding.”
Therefore, this drop in exchange netflow suggests that SHIB is being transferred to cold storage and digital wallets for holding purposes, reducing selling pressure.
Femifire added that transaction counts and active addresses had remained between 10,000 and 15,000, suggesting steady user activity rather than retail-driven hype.
Meanwhile, Shiba Inu’s burn rate has been exploding after recently soaring by 17,930%, which further cements the meme coin’s bullish picture based on reduced supply.
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