SHIB Sees $463 Billion Outflow as Bulls Hope for Price Rebound

Shiba Inu (SHIB) experienced significant outflows from exchanges in the last 24 hours, totaling around 461.4 billion tokens. This is a positive sign for bulls as it indicates that holders are choosing to keep their SHIB rather than selling them on exchanges. The exchange flows have turned positive, with more tokens leaving exchanges than entering them.

The total reserves of SHIB fell by 0.27% to approximately 86.97 trillion tokens, and their dollar value decreased by 1.43% to $440.9 million. However, the signal from exchange outflows is insufficient to guarantee a price recovery for SHIB.

SHIB's current price is trading around $0.00000505, close to its recent local high of $0.00000555. The token has reversed course and is now resting on a significant support cluster. If bulls can hold this area, they may be able to rebuild momentum towards $0.0000053 and ultimately $0.0000055, $0.0000057.