Shiba Inu Exchange Activity Prints Bullish Signal Amid Downtrend

Shiba Inu's exchange activity suggests that bulls are dominating the market despite its recent downtrend.

The token's netflow has declined by over 3% in the last day, sitting at -145,196,700,000 SHIB as of the time of writing.

This decrease in exchange flow indicates a bullish outlook as it shows that the amount of tokens sent to exchanges for sell-off purposes is lower than the amount moved out of exchanges to private wallets to hold.

Although Shiba Inu has dropped by 0.98% over the last day, trading at $0.000004130, its exchange activity suggests a potential bullish price reversal.