Shiba Inu (SHIB) is experiencing notable price swings, yet investors appear to be accumulating the meme coin. Exchange netflow data shows more SHIB tokens are leaving trading platforms than entering. This trend signals a shift toward long-term holding and reduced selling pressure. The accumulation occurs alongside periods of market uncertainty and price corrections.
Exchange Outflows Indicate Holder Accumulation
CryptoQuant data confirms strong accumulation behavior among Shiba Inu holders. Over the past 24 hours, the total exchange netflow reached -84.014 billion, up 0.56% in the same timeframe. Negative netflow reflects outflows exceeding inflows, with investors moving SHIB to private wallets or third-party storage.
According to Coinglass, inflows to exchanges totaled $5.95 million, while outflows hit $6.13 million, resulting in a net difference of $181,350. This equates to roughly 30 billion SHIB tokens at a market price of $0.000006061. Despite the recent volatility, demand for Shiba Inu remains intact, suggesting strong holder confidence.
The outflows reduce immediate market supply, potentially limiting short-term selling pressure. Experts highlight that such accumulation usually signals investor optimism during price dips, reinforcing the token’s resilience.
Shiba Inu Price Bounce Follows Three-Day Decline
Shiba Inu’s accumulation coincided with a period of price uncertainty. The token fell for three consecutive days, losing about 6% after a rejection at $0.00000644. However, SHIB rebounded over 5% in early trading today, spurred by an uptrend in the Asian session. The attribute bounces to a dragonfly doji formation, which indicates waning bearish momentum on the daily chart.
As of the writing, Shiba Inu was currently trading at $0.00000597, up by 4,80% in the past 24 hours.
The volatility also triggered liquidations, totaling approximately $186,080 in the past 24 hours. Long positions accounted for $139,200, while short positions reached $46,880. Short-term timeframes showed bears under pressure, with 12-hour short liquidations exceeding longs at $38,710 and $12,700, respectively.
SHIB trades near the $0.0000060 resistance zone. A breakout could lead to higher levels, while a rejection might push it toward $0.00000545 and $0.00000507 support areas. Shiba Inu’s ongoing accumulation and liquidity dynamics reflect cautious optimism among holders. Continued outflows from exchanges, combined with short-term price rebounds, point to a potential consolidation phase that could favor long-term investors.
Source: https://coinpaper.com/15586/shiba-inu-exchange-outflows-reach-84-014-billion-amid-price-volatility
