SHIB Exchange Outflows Surge 121%, But Inflows Soar Even Higher

The seven-day average exchange outflow for Shiba Inu (SHIB) has increased by over 100% in just one day, a trend that could potentially provide some support for the token. However, this increase is not as bullish as it seems, as exchange inflows are growing even faster, indicating that more SHIB is being withdrawn from trading platforms while an even greater amount is arriving at exchanges.

According to on-chain data, the current seven-day average exchange outflow is estimated to be 579 million SHIB, up 121.26% over the previous day. This rise in outflows typically indicates that tokens are leaving trading platforms, which could lower the quantity of immediately liquid SHIB available for sale.

But with inflows growing by 182.3%, a total exchange netflow was positive at roughly 86.53 billion SHIB. As a result, exchange reserves have increased by 0.1% to about 87.29 trillion SHIB.

$SHIB is currently under technical pressure, having dropped nearly 4% on the daily candle and trading close to $0.00000520. The major long-term moving average is still at $0.00000568, but its recent recovery was rejected at $0.00000540.