Crypto
Shiba Inu Spot-Flow Timeframes Turn Negative Amid Struggling Price
The price of Shiba Inu (SHIB) has been struggling to break above $0.00000500, leading to a decline in spot-market demand.
According to data from TradingView, all seven significant spot-flow timeframes for SHIB now display negative net flows, indicating that sellers are transferring more value out than buyers are bringing in over various time periods.
The imbalance is most pronounced over longer time periods, with a net flow of -$14,540 over 15 minutes and -$250,040 over twelve hours.
This technical setup has created a compressed trading range for SHIB, with the price currently trading between $0.00000495 and $0.00000515.