Shiba Inu, the prominent meme coin, is currently undergoing a remarkable market resurgence, effectively reversing a prolonged period of bearish signals and broad crypto volatility. This significant comeback is not just a price recovery but reflects a deeper shift in investor sentiment, marked by a decisive return of demand to the market.
Resurgence Driven by Strong Demand
The impressive rebound in Shiba Inu's price is primarily fueled by a surge in buying interest from both retail and institutional investors. On-chain data corroborates this, showing a substantial net outflow of SHIB from cryptocurrency exchanges. Specifically, over 212 billion SHIB tokens were withdrawn for buying, vastly exceeding the amount returned for selling. This significant "scooping out" of tokens underscores a strong accumulation trend, indicating that investors have regained optimism and confidence in SHIB as broader market sentiment for the asset turns bullish.
Sustained Investor Confidence Despite Cooling
While Shiba Inu's initial rapid price surge, which saw daily gains exceeding 15%, has naturally begun to cool, its underlying market dynamics continue to signal incredibly high demand. Although the asset's 24-hour gain has settled to a more modest 0.85%, the sustained exchange movements strongly suggest that investor interest remains robust. This persistent demand indicates that despite the current cooling phase, SHIB is well-positioned to resume its price recovery and is expected to reclaim its previous highs in the near future.
