Shiba Inu's Netflow Turns Bearish Amid Fading Momentum

Shiba Inu's netflow has flipped to bearish, indicating that traders are selling their assets in anticipation of potential losses. The recent price breakout helped recover some losses, but it seems that momentum is fading.

The data from CryptoQuant shows a modest decline in Shiba Inu exchange activity, with 145 billion tokens moved to exchanges for selling purposes, exceeding the amount of tokens moved out of exchanges by over 145 billion tokens. This suggests that traders are no longer willing to hold or accumulate more tokens amid speculation of a bearish month ahead.

Shiba Inu has also been showing mixed price action over the last few days, but it has suddenly flipped into the red, risking a retest below the major $0.000005 level as it continues to show daily price declines of about 3% in recent days.