Shiba Inu (SHIB) has seen its trading volume exceed $50 million on a single exchange, coinciding with a significant price increase and heightened on-chain activity. The token briefly gained over 10% in the recent daily session, reaching approximately $0.00000627 before facing selling pressure around $0.00000600–$0.00000620, and is currently trading near $0.00000594.

This volume expansion is notable as it aligns with a technically important move, with SHIB breaking above the declining long-term moving average at $0.00000560. On-chain data also shows dynamic activity, with total exchange netflow at approximately -51.7 billion SHIB, indicating more tokens left tracked exchanges than entered them, and exchange reserves decreasing by 0.6%.