Shiba Inu Price Soars 658% in 12 Hours, Wave of Buying Returns to Market

Shiba Inu experiences a spectacular surge amid rapidly increasing buying activity in the spot market. The inflow flooding the exchange pushed Shiba Inu’s price up 658% in a short period, signaling a return of trader confidence after a previous decline.

Latest data shows positive momentum not only in price movement but also reflected in trading volume and significantly increased derivatives activity. This market condition becomes an interesting signal for digital asset regulators this week.

Spot Funds Drive Shiba Inu Price Upward

Spot buying strength is clearly visible from the difference between inflows and outflows on the exchange. In the latest reporting period, funds flowing into the exchange reached about $2.52 million, while withdrawals were only around $2.25 million. This gap created a surplus of approximately $268,940 remaining in the trading system.

This difference generated phenomenal momentum with a net inflow increase of 658.56% over 12 hours. This spike reflects a drastic change in trader behavior, with more market participants starting to take positions in Shiba Inu after a consolidation period.

CoinGlass data confirms that activity between personal wallets and exchanges shows healthier movement. This signal usually indicates traders are re-entering the market after waiting for the right momentum.

Positive Price Movement Follows Previous Selling Pressure

Shiba Inu’s price responded well to this strong inflow. At the time of reporting, this well-known meme token traded with an interesting weekly movement after experiencing selling pressure for several days.

This recovery indicates a transition from a weak phase to an accumulation phase, where buyers begin to reappear at lower levels. This activity is consistent with broader crypto market recovery patterns during this period.

Derivatives Open Interest Swells, Traders Increase Bets

Market activity in futures and options also shows increased energy. Open interest in Shiba Inu derivatives contracts rose 9.39% in the last 24 hours, reaching nearly $63 million. This growth indicates that leverage traders continue opening new positions rather than liquidating existing exposure.

This expansion of open interest, parallel to spot buying spikes, suggests market participants are increasing their bets on this asset through various channels. This behavior is generally associated with a developing phase of optimism in the market.

Technical Narrowing, Volatility Decreases Ahead of Possible Breakout

From a technical perspective, weekly Bollinger Bands continue to tighten— a classic indicator signaling decreasing volatility. This condition is often followed by stronger price movements after a consolidation period.

Shiba Inu recently approached $0.00000548 at the start of the week, reflecting a reversal from a four-day decline following last month’s peak around $0.00000587. This pattern indicates a tug-of-war between buyers and sellers around certain technical levels.

Key Price Levels and External Factors to Watch

Traders are monitoring several key resistance levels for Shiba Inu’s future price. The first resistance is around $0.00000587, with a secondary resistance waiting at $0.00000653 if sellers are pushed out of the market.

Conversely, support falls at $0.00000526, a level that must be maintained to sustain the recovery momentum. Penetration below this level could indicate renewed selling and an extended weak period.

Beyond technical dynamics, macroeconomic catalysts also need attention. Upcoming US inflation data could influence expectations regarding Federal Reserve policies, which in turn will affect sentiment toward risk assets like cryptocurrencies and specifically Shiba Inu.