The broader crypto market is regaining momentum and Shiba Inu is also benefiting from this bullish rally. According to data from analytics platform CryptoQuant as of October 16, SHIB’s exchange netflow reached -78,761,600,000 SHIB, a decline of over 5%, signaling growing demand as more tokens are being withdrawn from exchanges for holding rather than being sold. This easing sell pressure has allowed SHIB’s price to rebound by 4%, bringing it back above the $0.0000051 level. Analysts remain cautious but believe the bullish momentum could allow the asset to break the Uptober curse.
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