Shiba Inu Exchange Outflow Surges 103% Amid Technical Pressure
Shiba Inu's exchange outflow has seen a significant increase of over 100% in just one day, reaching an estimated 579 million tokens. This may indicate that more SHIB is leaving trading platforms and reducing the immediately liquid supply available for sale.
However, this upward trend is countered by a more substantial increase in inflows, with exchange inflow rising by 182.3% to around 1.68 billion tokens. The total exchange netflow remains positive at roughly 86.53 billion SHIB.
The timing of these developments is crucial as Shiba Inu faces technical pressure, having dropped nearly 4% on the daily candle and trading near $0.00000520. A key support cluster at $0.00000500 is approaching, where major moving averages and a rising short-term trendline converge.
Despite the increase in outflow, bulls will need to hold onto this critical level of support if they hope to attempt another push towards $0.00000540, $0.00000568 and preserve the August recovery structure. If this level is broken, a clear breakdown would reveal around $0.00000480, followed by the larger August support zone at $0.00000440.