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SHIB Shiba Inu: Net flow on the exchange turned negative, and prices fell by 1%
Since July, the popular meme currency Shiba Inu is facing downward pressure on prices after losing momentum at the beginning of the month. According to the latest data, the token fell 0.98% in the past 24 hours to close at US$0.00004130.
Exchange net flow shows hoarding signal
Although prices have fallen, on-chain data reveals a more complex picture. According to CryptoQuant, net exchange traffic for Shiba Inu Coin has dropped by more than 3% in the past day, resulting in a negative balance reaching-145,196,700,000 SHIB.
Negative exchange net flow usually means that more tokens are withdrawn from the exchange than are deposited. This is often seen as a bullish signal because investors are moving assets into private wallets to hold them rather than preparing to sell them.
The shift came after several days of caution among traders. Some analysts believe that renewed signs of hoarding indicate that market optimism is growing, and buying activity in the spot market is beginning to exceed selling pressure.
(Note: CryptoQuant is a blockchain analytics platform that provides data-driven insights into cryptocurrency market trends, including real-time exchange traffic, on-chain indicators and investor behavior.)
Net exchange traffic for Shiba Inu coins has dropped by more than 3% in the past 24 hours to-145,196,700,000 SHIB, indicating that hoarding has once again exceeded selling as more tokens are moved from exchanges to private wallets.
July performance remains negative
Although exchange data may hint at potential bullish momentum in the future, Shiba Inu's July return is currently-1.74%. This sluggish performance has caused some traders to question whether positive earnings can be achieved this month.
Indicator| current value| Changes
Prices| $0.000004130 |-0.98%(24 hours)
Exchange Net Traffic| -145,196,700,000 SHIB |-3%(24 hours)
July Return| -1.74% |Not applicable
Market observers pointed out that if the hoarding trend continues and the selling further weakens, Shiba Inu may reverse its recent decline and strive to close higher this month.
Outlook improves, market sentiment shifts
Overall market sentiment remains cautious, but early signs of increased exchange withdrawals and buying pressure have sparked hopes that the trend may reverse.
If buyer confidence continues to increase, Shiba Inu may try to recover lost ground and repeat the gains it has made in the past under stronger market conditions. The recent turn in negative net flow suggests that holder interest in the token is heating again, which could lay the foundation for a price rebound if market sentiment continues to improve.
As the month moves forward, traders and investors will be closely watching on-chain data for further confirmation of the shift and any signs of sustainable positive momentum.
