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Following
SHIB The destruction of SHIB accelerated the price rebound, and the signals on the chain collectively turned positive.
SHIB rose 3.1% in about 39 hours, regaining market attention. The rebound was not catalyzed by a single major news, but multiple signals on the chain pointed in the same direction at the same time: accelerating token destruction, decreasing exchange balances, increasing whale activity, and a rebound in Shibarium Internet activity. Together, these factors provide traders with reasons to watch SHIB more closely. Although the rebound is limited, if buyers can break through nearby resistance levels, these signals may affect subsequent trends.
The surge in destruction strengthens the narrative of scarcity
Recently, SHIB destruction activities have accelerated significantly. Data showed that the destruction rate soared by more than 618% within 24 hours, and about 11.35 million SHIBs were withdrawn from circulation, setting the largest amount destroyed in a single day since the end of July. As of August 14, a total of approximately 3.35 billion SHIBs have been destroyed in 30 days. Previous data also showed that the single-day destruction rate had increased sharply by 439%, corresponding to the removal of approximately 10.68 million SHIBs.
Although these quantities are still small compared to the huge supply of SHIB, the percentage increase has attracted great attention from traders. Destruction activities also continue to strengthen the long-term scarcity narrative surrounding the memein.
Exchange outflows reduce selling pressure
During the same period, exchange funds flows provided another bullish signal. SHIB recorded a net outflow of approximately 44.1 billion tokens, meaning that the number of tokens leaving the exchange exceeded the inflow in 24 hours. Previous data also showed that the amount of SHIBs extracted in a single day was as high as approximately 110.59 billion. Exchange reserves are still maintained at around 87.5 trillion SHIBs.
Falling exchange balances usually reduce immediate selling pressure. While this trend does not guarantee a price rise, traders often view large withdrawals as a signal of increased confidence among holders. This position structure helps support price recovery when SHIB trading is near key support levels.
Whale activity and Shibarium provide additional support
Whale activity has also increased around the SHIB. Tracking data showed that whale activity soared 850% in about a day. Another set of data showed that net whale inflows were approximately US$14.69 million, and the purchase ratio reached 55% in the 30-day period during the same period, indicating that large holders maintained a tendency to accumulate.
The Shibarium network also showed signs of recovery in activity. Daily trading volume has recently reached its highest level since early July, and the deployment of new smart contracts has added more activity to the ecosystem. Rising Internet usage may strengthen the overall fundamentals of SHIB, and traders also view increased Shibarium activity as a catalyst for potential demand.
From a technical perspective, SHIB is still in a critical area. Recent analysis points to support in the range of US$0.000045 to US$0.000047. Traders are focusing on a downward wedge or triangle pattern that breaks through resistance levels could open up room for a move towards $0.000052 or higher. For now, the rebound in SHIB appears to be driven by a combination of smaller signals.
