Shiba Inu Stabilizes as Netflows Drop to 120 Billion Tokens
Shiba Inu (SHIB) is experiencing a period of stabilization after recent volatility. Exchange netflows have dropped significantly to around 120 billion tokens, indicating a slowdown in selling pressure. Netflow, which measures the difference between tokens entering and leaving exchanges, suggests that the aggressive price swings may be easing.
Exchange activity remains bearish, with total inflows standing at approximately 551.8 billion SHIB, compared to outflows of about 453.4 billion. Exchange reserves have increased slightly by 0.11%, and their dollar value has risen by 4.85%. This suggests that SHIB has not yet entered a clear accumulation phase.
Despite the bearish exchange activity, SHIB's price shows more encouraging signs. The token is currently trading around $0.00000598, having recovered from September lows near $0.0000049. It has moved above a major long-term moving average around $0.00000565 and has defended this region during recent pullbacks. The next significant resistance lies between $0.00000610 and $0.00000630.
A clean daily close above $0.00000630 could establish another higher high and strengthen the bullish structure. However, the main risk remains a breakdown below $0.00000560, which could expose lower support levels. For now, falling netflows reduce immediate selling pressure, but they do not confirm a bullish trend on their own.