Shiba Inu Reserves Double to US$929M, Price Jumps Nearly 9% Amid Bullish Sentiment

The memecoin market is buzzing once again—Shiba Inu (SHIB), one of the most talked-about dog-themed cryptocurrencies, has seen its exchange reserves skyrocket from roughly US$455 million to US$929 million in just 24 hours. This sharp increase signals a major shift in market activity and growing interest from traders.

In tandem with this spike in reserves, SHIB’s price has climbed 8.94%, now sitting at US$0.00001162, reflecting renewed investor confidence and market momentum.

📈 What’s Driving the Reserve Surge?

An increase in exchange reserves typically means more tokens are being deposited by users, likely in preparation for selling or active trading. While this might traditionally be seen as a bearish signal, the context here paints a different picture.

Despite the increase in available SHIB on exchanges, the token’s trading volume actually fell by 17.28%, dropping to US$182 million. Yet, in a surprising twist, open interest rose by 7.12% to hit US$130 million, indicating that traders are opening more leveraged positions and are confident in the token's short-term potential.

💹 Long Positions Dominate

Data from major exchanges reinforces this bullish sentiment. On Binance, the long vs short ratio for SHIB stands at 1.09, meaning slightly more traders are betting on price increases than declines. On OKX, the bullish momentum is even stronger, with a long/short ratio of 2.25—more than double the number of long positions compared to shorts.

This growing confidence suggests many traders believe that SHIB’s price could continue its upward trajectory, possibly driven by both technical breakouts and renewed hype within the crypto community.

🧠 Why Does This Matter?

While Shiba Inu is often lumped into the “meme coin” category, these kinds of metrics reveal that it continues to play a serious role in market speculation and liquidity. High open interest combined with a surge in exchange reserves shows heightened market engagement—and that’s not something traders can ignore.

The SHIB community, often referred to as the “ShibArmy,” remains one of the most active and loyal fanbases in crypto. With regular ecosystem updates, including SHIB burns, Shibarium network growth, and integration into decentralised finance (DeFi) tools, there’s more to this memecoin than memes alone.

🔮 What’s Next?

Market watchers are keeping a close eye on SHIB’s next moves. If momentum continues, we could see further breakouts above key resistance levels, potentially drawing in even more retail investors.

Still, volatility remains high, and profit-taking could easily shift the trend. As always, traders should stay updated on macro factors and keep a close eye on on-chain data before making aggressive moves.

Whether you’re in it for the memes or the market gains, one thing is clear—Shiba Inu isn’t going away anytime soon. With exchange activity ramping up and investor sentiment heating, SHIB is once again proving it deserves a seat at the crypto conversation table.

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