Shiba Inu experienced a significant price recovery, climbing 10% within 24 hours to reach $0.000004566, despite onchain indicators pointing to a bearish exchange netflow. Bearish netflow sign
Shiba Inu experienced a significant price recovery, climbing 10% within 24 hours to reach $0.000004566, despite onchain indicators pointing to a bearish exchange netflow.
Latest data from CryptoQuant, a leading crypto analytics platform, revealed that SHIB exchange activity has shifted from recent bullish levels. The exchange netflow, which tracks the difference between coins entering and exiting exchanges, turned negative as more Shiba Inu tokens were deposited for sale.
The SHIB exchange netflow surged to 69,237,400,000 SHIB, reflecting a substantial rise in tokens being sent to exchanges. This trend suggests that traders have increased their selling activity, typically signaling a weakening demand on the spot market.
A higher netflow to exchanges generally indicates that more holders are preparing to sell, adding downward pressure to prices during periods of uncertainty.
Mini dictionary: CryptoQuant is a data analytics platform that tracks real-time onchain crypto metrics, including exchange flows, to help traders and investors better understand market sentiment.
Despite the bearish signals, Shiba Inu’s price staged a swift recovery. Historically, large inflows to exchanges often trigger increased volatility and price declines, especially for meme coins like SHIB. However, in this instance, SHIB resisted selling momentum and managed to reestablish a previous high.
Onchain data shows that although more tokens have been sent to exchanges for selling, aggressive buying appears to have absorbed the excess supply. This dynamic has created a temporary disconnect between selling pressure and price movement.
Over the past day, Shiba Inu’s price rose by more than 10%, reflecting a rare divergence from typical market patterns during periods of negative netflow.
Despite the surge in selling activity, Shiba Inu returned to $0.000004566, with buyers rapidly offsetting the increased supply and supporting the price above key levels.
This sudden shift has drawn renewed trader interest as the market evaluates whether SHIB’s buyers can maintain momentum against elevated levels of selling.
The substantial netflow spike highlights the intensity of recent trading activity among SHIB investors. Analysts are watching to see if this disconnect between netflow and price persists or if price stability can be maintained as new coins enter exchanges for potential sale.
MetricLatest Value24h ChangeSHIB price$0.000004566+10%Exchange netflow69,237,400,000 SHIBBearish (more inflow)The post SHIB price surges 10% to $0.000004566 as exchange netflow turns bearish appeared first on COINTURK NEWS.
