Growth
Shiba Inu Exchange Netflow Eases to 65 Billion SHIB
The exchange activity for Shiba Inu (SHIB) has shown signs of stabilizing, as recent data from crypto analytics platform CryptoQuant indicates a significant reduction in sell-off pressure. Following a period of extreme bearishness across major exchanges, the netflow of SHIB tokens moving to exchanges for sell-off attempts has decreased to 65 billion SHIB as of October 10. This represents a slowdown from hundreds of billions of SHIB previously, suggesting that bear traders are gradually exiting the market. Despite the positive balance in netflow, indicating that sellers have not yet been fully wiped out, the reduction in netflow to 65 billion SHIB reflects a cooling of the bearish momentum. Analysts predict that this could signal a potential shift in sentiment, with demand returning to the SHIB ecosystem, potentially leading to a major recovery in the token's price if the trend continues.