SHIB Exchange Netflow Drops 3% Amid Bullish Outlook

Shiba Inu's exchange netflow has dropped by over 3% in the last day, indicating a bullish signal according to on-chain data from CryptoQuant.

The negative balance in the Shiba Inu exchange flow shows that more tokens are being moved out of exchanges to private wallets than sent to exchanges for sell-off purposes.

This comes as the crypto market faces a downtrend, with Shiba Inu's price decreasing by 0.98% over the last day and trading at $0.000004130.

Despite concerns that Shiba Inu may not meet its anticipated July gains, the asset's exchange activity suggests it could be preparing for a bullish price reversal.