Shiba Inu Exchange Inflows Surge 128%, But Market Decline Continues

Shiba Inu's (SHIB) exchange inflows have surged by over 128% in the past week, but this increase is not enough to stop the market decline. Despite higher inflows, more tokens are leaving exchanges than arriving, with a net outflow of approximately -87.05 billion SHIB.

The seven-day moving average of mean exchange inflows has increased by 87.76% over the past 24 hours, reaching around 147.57 billion SHIB. However, this is still lower than the total exchange outflow from SHIB, which has increased by 4.27% to 234.62 billion tokens.

Large transactions also show a similar pattern, with top-10 exchange inflows at approximately 3.32 billion SHIB and top-10 outflows significantly higher at 4.51 billion SHIB, rising by 9.68%. This creates a potentially positive supply dynamic, but the price remains a concern for investors.

SHIB is currently trading below its significant moving averages, with an immediate resistance level of $0.00000447-$0.00000457 and a significantly stronger level at $0.00000490. The RSI is around 44, indicating weak momentum rather than an impending bullish breakout.