SHIB Exchange Outflows Signal Support for Bulls Amid Fading Momentum
The recent surge in exchange outflows has provided SHIB bulls with a potentially supportive supply signal. According to data, around 461.4 billion tokens left tracked exchanges during a 24-hour period, while approximately 229 billion entered. This created a negative netflow of about 232.4 billion tokens, reducing immediate selling liquidity and creating a supportive supply-side environment.
However, the seven-day average shows that withdrawal intensity has started to lose momentum, with exchange outflows falling 37.5% from the recent baseline. SHIB bulls must defend the current support cluster between $0.00000495 and $0.00000505 to preserve the recovery structure. Holding this region could allow buyers to rebuild short-term confidence.
The token's price recently reversed from a September local high near $0.00000555, and now trades close to $0.00000505 after the correction. Bulls could target $0.00000530, followed by $0.00000550-$0.00000570 if momentum indicators improve.