Shiba Inu Stabilization Indicates Seller Fatigue
Shiba Inu's recent wave of selling pressure may be waning, according to exchange-flow data and daily price structure. The past week has been turbulent for SHIB, but stabilization is starting to appear.
The net inflows on exchanges have increased by 2.46% over the last day, with a total of 465,652 billion $SHIB deposited. Meanwhile, outflows totaled 350,424 billion $SHIB, resulting in a positive netflow of approximately 115,228 billion $SHIB.
The average exchange inflow has risen to around 1,132 billion $SHIB per transaction, which would typically signal caution due to the ease with which deposited tokens can be sold. However, SHIB's price no longer reacts to these flows with the same level of weakness as it had in previous periods.
After briefly dropping below $0.00000480 and rising to about $0.00000537, SHIB has moved above its shorter-term moving averages at $0.00000500, $0.00000520. This could be a sign of seller fatigue, as the marginal effect of further selling may be diminishing in a market that absorbs high exchange inflows without going lower.