Shiba Inu exchange netflow turned negative by 44.1 billion SHIB on August 13, even as the token's price stays stuck near its recent high around $0.000005. The divergence between falling price and shrinking exchange supply has analysts flagging a possible rebound if demand holds.
Shiba Inu's exchange activity has flashed a bullish signal, even though the token's price remains in the red. Data from crypto analytics platform CryptoQuant shows the SHIB exchange netflow fell to a negative balance of 44.1 billion tokens as of Thursday, August 13, meaning far more SHIB left exchanges than arrived over the past day.
44 billion SHIB in demand
The metric captures the gap between coins moved out of exchanges and coins moved in for potential sale. Per the data, the difference stood at -44 billion SHIB over the last 24 hours, showing that outflows tied to demand outpaced inflows tied to sell-offs.
That gap matters because it shrinks the pool of SHIB sitting on exchanges available for sale. As a result, the immediate sell pressure facing the token has gradually cooled, even while its price has yet to reflect the shift.
Price still struggling near recent high
SHIB continues to trade on a downward trajectory amid broader market volatility, and its price is still struggling to reclaim its recent high near the $0.000005 mark. The token remains in the red despite the improving exchange picture.
Still, analysts believe there is a chance for a potential price reversal if investors remain resilient and the token can sustain demand even amid weak market conditions. The exchange flow data offers a bullish counterpoint to price action that has so far stayed negative.
Source: U.Today
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