Shiba Inu (SHIB) Key Bullish Metric Just Spikes 20%, but There's Silver Lining

The state of Shiba Inu is complicated as despite substantial outflows, the market is yet to enter a recovery period.

Arman Shirinyan · 14 Jun 2026 · 5 min read

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Shiba Inu (SHIB) Key Bullish Metric Just Spikes 20%, but There’s Silver Lining

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By
Arman Shirinyan

Sun, 14/06/2026 – 12:13

The state of Shiba Inu is complicated as despite substantial outflows, the market is yet to enter a recovery period.

Shiba Inu (SHIB) Key Bullish Metric Just Spikes 20%, but There's Silver Lining

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It’s not that significant
Recovery is closer than we think

During its recent market decline, Shiba Inu is exhibiting one of the few potentially bullish on-chain signals. Exchange outflows have dramatically increased, indicating that some investors are shifting SHIB into private wallets rather than trading platforms. Rising outflows are typically seen as a decrease in immediate selling pressure, which frequently sets the stage for a price rebound.

It’s not that significant

But there’s a significant catch. These outflows are still too small to significantly alter SHIB’s market structure. Exchange reserve balances are still incredibly high, at over 80 trillion SHIB, according to on-chain data. Even though outflows have increased by about 20% and exchange netflows have become slightly negative, average inflow and outflow transactions are still far below the levels usually associated with significant accumulation events.

Most significantly, daily outflow activity stays below the psychologically significant 1 billion SHIB threshold, which traders frequently monitor for indications of whale-driven or institutional positioning. The current outflow spike appears more like regular wallet management than aggressive accumulation in the absence of sustained transfers that surpass that threshold.

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This weakness is reflected in the price chart. A descending wedge structure that had been forming since March was recently broken below by SHIB. Rather than yielding the anticipated bullish breakout, the asset lost support and continued declining. The token is currently trading below its 50-, 100-, and 200-day moving averages, indicating that bears are still firmly in charge of the overall trend.

Recovery is closer than we think

While this is going on, some underlying network metrics are showing some improvement. Over the last 24 hours, active addresses, active sending addresses, and active receiving addresses have all shown slight increases. Despite the continuous price weakness, these increases imply that network participation has not entirely collapsed. The issue is that, without significant capital flows, activity growth by itself seldom propels price appreciation.