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SHIB Exchange outflows and derivatives paint a stronger picture
Shiba Inu has regained focus after a strong technological breakthrough, attracting traders 'attention. The meme coin climbed above $0.000042 after breaking through a downtrend line that has suppressed price movements since mid-May. This trend has inspired new optimism in the market. In addition to charts, improvements in blockchain data and derivatives activity also suggest that investor confidence is growing.
The latest online data shows that selling pressure has begun to ease. According to CryptoQuant data, SHIB has experienced net exchange outflows for five consecutive days since July 17. This trend means investors move more tokens from exchanges to private wallets rather than leaving them on exchanges for sale. This behavior usually reflects increased confidence, as long-term holders often move assets out of exchanges in anticipation of price increases. Lower exchange balances can also reduce immediate selling pressure and create healthier market conditions for a sustained recovery.
Derivatives data also supports the same bullish view. CoinGlass reported that SHIB's current long-short ratio is 1.02, indicating that traders continue to favor long positions over short bets. Meanwhile, the funding rate has remained positive since July 17, reaching 0.0103 percent on Tuesday. Positive funding rates indicate that traders holding long positions are paying fees to traders holding short positions, a sign that buyers are willing to maintain positions even after recent gains.
While derivatives data and on-chain indicators improve simultaneously, many technical analysts view this consistency as a strong confirmation of continued strengthening bullish momentum. The combination of exchange outflows, increased long positions and positive funding rates provides investors with multiple reasons for optimism. Although no single indicator can guarantee future price movements, multiple bullish signals appearing at the same time often increase confidence in overall market trends.
Technical breakthrough keeps bulls in control
Breaking through the downtrend line changes SHIB's short-term technical prospects. Buyers managed to push prices above a resistance level that has suppressed every attempt at a rally for weeks. Now, maintaining this breakthrough has become the next important goal. If buyers continue to hold on to current levels, the SHIB may climb to near the next daily resistance level of $0.000045.
A decisive close above the region will strengthen bullish momentum and increase the possibility of further climbing towards the 50-day index moving average. Momentum indicators continue to show signs of improvement. The Relative Strength Index has risen to 45 and continues to move towards the neutral 50 level.
This steady improvement suggests that bearish momentum has begun to fade, while buying interest is gradually increasing. At the same time, the moving average convergence and divergence indicator has recently produced a bullish crossing and is supported by an expanded green histogram. Taken together, these indicators suggest that market momentum continues to shift in favor of buyers.
