Shiba Inu's Key Metric Takes a Hit

The price of Shiba Inu (SHIB) is facing another challenge as a key metric declines by approximately 42% to 48%, depending on the observation point. This metric tracks tokens departing from centralized trading platforms, and high outflows over time may indicate that holders are transferring SHIB into private wallets instead of keeping it on the market.

The mean inflow increased by 0.79 percent, while the total exchange netflow remains extremely negative at about -62.5 billion SHIB. This suggests that withdrawals have become less intense rather than holders suddenly depositing large amounts of SHIB onto exchanges.

SHIB's price is currently trading around $0.00000535, having briefly surpassed $0.0000060 during the rally before sellers pushed it back. The long-term moving average is located at $0.00000573, which has already been tested by SHIB but failed to establish itself above it.