Shiba Inu
Why Shiba Inu is up 24.2% today
Analysis
Shiba Inu (SHIB) jumped 24.2% over the past 24h as on-chain flow data turned supportive, with reports highlighting a bullish netflow signal that can coincide with increased spot demand. U.Today noted a “145 million SHIB netflow” flashing bullish, while a separate U.Today piece said SHIB netflow exited a bullish zone with 69 billion SHIB even as price continued higher—suggesting price strength persisted despite mixed flow readings.
Contributing Factors (2)
Shiba Inu Netflow Exits Bullish Zone With 69 Billion SHIB but Price Says Otherwise
Shiba Inu has suspended its recent bullish trend as onchain activity shows that selling pressure is rising again and traders are rapidly moving tokens out of exchanges.
145 Million Shiba Inu Netflow Flashes Bullish Signal
Shiba Inu is facing downside pressure, but it isn't related to its trading activity, as exchange activity shows that traders are moving tokens off exchanges.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.