Shiba Inu Exchange Inflows Surge as Short-Term Outlook Weakens

Shiba Inu (SHIB) has seen an increase in inflows to exchanges over the past 24 hours, while its short-term outlook appears weakened.

Around $468 billion worth of SHIB tokens were transferred to exchanges during this period, with outflows slightly exceeding inflows. Despite this, the token's price fell by 2%, settling around $0.00000515 per unit and testing its 20-day moving average.

The uptrend that began from last month's low has been broken, and the market is now following key support levels.