The SHIB network has seen a significant decrease in exchange netflows, with a contraction of approximately 811 billion SHIB, dropping from over 1 trillion to about 212.3 billion SHIB. The token is currently trading around $0.00000521, up roughly 5.5% on the daily candle, and is approaching levels not consistently maintained since June. This decline in netflow indicates a substantial drop in the net amount of SHIB moving onto exchanges, as massive withdrawals are offsetting supply bound for trading venues. On the technical side, the RSI has surged to about 67.4, putting SHIB near overbought territory, and the breakout above $0.000005 creates space toward approximately $0.0000055 to $0.0000057.
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