Capped supply & strong long-term holder conviction emerge as the first signs of Shiba Inu's early rebound.
Trader sentiment in Shiba Inu derivatives market has done a complete 180 over the past week. Net positions — which sat at around -200 million just days ago, reflecting a market tilted toward short bets — have swung to more than +400 million in net longs as of May 11.
Shiba Inu price rises steadily while Open Interest jumps past 6B and net longs surge above +400M in the derivatives market.
Following an extended stretch of weak price action, Shiba Inu has begun exhibiting tentative signs of investor accumulation. Recent exchange flow data is shifting toward patterns that traders often interpret as capital moving into longer-term holding behavior instead of preparing for near-term liquidation.
Despite short-term stabilization above the March lows, Shiba Inu is still trading within a larger bearish market structure. The 200-day moving average is still sharply declining, and the daily chart displays SHIB trapped beneath all major moving averages.
Millions of SHIB disappear from the market again. Within 24 hours, more than 6 million tokens have been sent to burn addresses, immediately reigniting speculation about the deflationary potential of the memecoin.
Shiba Inu is starting to find some stability, but recent on-chain data still shows traders aggressively reshuffling positions across centralized exchanges. As investors continue to move money around the market, SHIB saw a significant increase in exchange-related activity, with outflow metrics rising dramatically over the previous 24 hours.
The crypto market regains activity, and Shiba Inu benefits from this renewed interest. According to data released by its team, SHIB has just reached a new record number of holders, with a total of 1.585 million wallets, in a context of rising prices and movements towards private wallets.
DOGE remains the undisputed leader in the meme coin realm, whereas the battle for the second spot has been fierce lately.
Half a year since last hitting the 4-zero mark, Shiba Inu now counts on scarcity & BTC price correlation for a breakthrough.
After a protracted decline, Shiba Inu is currently in a transitional phase where price structure and on-chain behavior are beginning to align.
Shiba Inu layer 2 Shibarium saw a decline in transactions at the start of May, dropping nearly 58.8% in the first few days of May.