Shiba Inu Price Rises 5% to 0.000006 After Support Hold

Shiba Inu, the popular meme-inspired cryptocurrency, experienced a notable price rebound on Monday, climbing approximately 5 percent to trade around 0.000006 after defending a key support level at 0.0000056. The surge, which followed six days of declines, coincided with heightened trading volume and significant token outflows from exchanges, signaling renewed investor interest amid broader market gains.

The token's recovery marked a shift in short-term momentum, as it flipped resistance at 0.000006 and broke above a descending trendline on daily charts. Market data indicated a 43.8 percent increase in 24-hour trading volume, reaching levels that reflected stronger buyer participation. On-chain metrics further supported the uptick, with net outflows exceeding 97 billion SHIB tokens from exchanges in the past day, according to blockchain analytics. This movement reduced available supply on trading platforms and aligned with a positive buy-sell delta of about 27.4 billion SHIB, where buy volume outpaced sales by a wide margin. Active addresses on the Shiba Inu network also rose 1.08 percent to 150,375, while sending addresses increased to 92,875, pointing to expanded on-chain...