Shiba Inu exchange outflows dropped by approximately 42% before recovering with only a 0.78% increase, reaching about 172.06 billion SHIB over the past 24 hours. The netflow remains positive at around 28.79 billion SHIB, but inflows continue to exceed outflows with approximately 200.85 billion SHIB entering exchanges. The seven-day average of exchange outflows has surged by 96%, indicating a significant rise in average withdrawal size. SHIB is currently trading at $0.00000510, still below its 200-day moving average of $0.00000571, with key support at $0.00000500. The current data does not indicate an imminent mass selloff, although selling pressure could intensify if the $0.00000500 support level is breached.
Source: Read the original article
