Shiba Inu's Price Under Pressure as Spot-Flow Data Indicates Weak Demand
Shiba Inu's recent attempt at recovery has been met with pressure as spot-flow data shows buyers are struggling to maintain control. Currently trading around $0.00000532, seven out of eight short-term flow periods display negative net inflows.
The imbalance is evident across various time periods, with a -$11,460 deficit in the five-minute period, and even more substantial losses in the 15 and 30-minute periods at around -$29,970 and -$89,170, respectively. The hour-long net flow shows an additional $49,130 deficit.
The pattern persists further out, with net inflows of -$75,850 for four hours and -$50,970 for eight hours. However, the 12-hour period remains slightly positive with a net inflow of about $25,430. A negative net flow suggests that more capital is leaving SHIB spot markets than entering them.
The price chart supports this theory, as SHIB surged from around $0.0000044 to momentarily reach about $0.0000062 before sellers drove it lower.