$SHIB Exchange Netflow Flips Bullish as 40 Billion Tokens Move Off Exchanges
Shiba Inu's recent exchange activity has sparked a bullish signal after it was revealed that over 40 billion $SHIB tokens were moved off major exchanges in a single day. This shift from intense selling pressure to increased buying interest could be the catalyst for Shiba Inu's next price movement.
Data from CryptoQuant shows that the token's exchange netflow has flipped bullish, indicating that more traders are willing to buy $SHIB than sell it. This is a significant change from the recent past, where large positive balances signaled increasing sell pressure.
With Shiba Inu currently trading above $0.000005 since its last major price breakout in mid-August, market analysts believe that it could be on track to reclaim another major level if momentum holds.