On-chain data reveals a significant net outflow of 200.6 billion SHIB from exchanges over the past 24 hours, suggesting accumulation by large investors or whales. This movement has led to a decrease in exchange reserves by 11-25%, while the number of active addresses has risen by 11%, highlighting sustained user engagement. Despite a recent price drop to $0.00001207, the market remains divided, with some interpreting the activity as a sign of long-term accumulation, while others point to technical weaknesses as the price tests key support levels.