SHIB Price Defies Bearish Netflow, Surges by Over 10%
The Shiba Inu exchange netflow has recently flipped negative, indicating that demand is on pause and traders are increasingly selling again. According to data from CryptoQuant, the net balance of SHIB tokens being sent to exchanges for sale over the last day is substantially higher than those removed for buying purposes. The amount of $SHIB currently available for sale across all supported exchanges has surged to 69 billion.
Despite this bearish trend in exchange activity, Shiba Inu's price has defied expectations and exploded with an explosive move that has seen its price reclaim a previous high of $0.000004566. This unexpected divergence between the SHIB price move and exchange netflow suggests that buyers are aggressively absorbing the additional supply entering exchanges.