The Shiba Inu ecosystem is currently experiencing a significant shift in its market dynamics, with a massive negative netflow indicating a potential turning point for the popular meme coin. This development suggests a renewed interest in long-term holding among investors, moving SHIB tokens off exchanges and into private wallets.
Understanding the Negative Netflow
A remarkable 24-hour netflow of -147.7 trillion SHIB tokens has been observed, signifying a substantial movement of Shiba Inu out of exchange reserves. This negative netflow is generally interpreted as a strong indicator of accumulation, where both large institutional holders and individual investors choose to hold their assets rather than sell. Historically, such a decrease in the available supply on exchanges often precedes periods of price stabilization or even upward momentum, hinting at a potential sentiment recovery after recent sell pressure.
Technical Crossroads and Future Outlook
From a technical perspective, SHIB is currently trading around $0.0000090, holding above a local ascending support trendline. While still within a longer-term downward channel, this accumulation phase could set the stage for a rebound. Key resistance levels, marked by the 200- and 100-day moving averages at approximately $0.0000128 and $0.0000118 respectively, remain significant hurdles. Should the accumulation persist and SHIB successfully close above $0.0000105, a short-term breakout towards $0.000012 could be initiated. However, failure to hold the $0.0000085 support might lead to a retest of the lower channel support at $0.0000075. Investors are keenly watching to see if this exchange liquidity drain translates into sustained buying momentum.
