Shiba Inu's Spot Flow Data Paints Mixed Picture After Price Surge

Shiba Inu's spot flow data is painting a mixed picture after its recent price surge. With seven out of eight short-term timeframes displaying negative net inflows, it seems that buyers are struggling to maintain control.

The imbalance is evident across various periods: the 5-minute net inflow is -$11,460, while the 15-minute and 30-minute readings stand at -$29,970 and -$89,170, respectively. The 1-hour figure shows a deficit of $49,130. Similar patterns are observed in longer timeframes.

The most notable technical barrier for SHIB lies above its long-term moving average, currently at $0.00000572. While the token has not yet broken through this level, it continues to trade above its shorter moving averages, which offer support around $0.00000468 and $0.00000497.

The relative strength index (RSI) is currently at 58, indicating that SHIB still has room for movement in either direction. Bulls are eyeing a recovery to $0.0000055, with the ultimate goal of breaking through $0.0000057-$0.0000058. However, if negative spot flows persist and SHIB drops below $0.0000050, the correction may reach as low as $0.0000047.