95 Billion SHIB in 24 Hours: Shiba Inu Exchange Activity Flips Bullish

Shiba Inu is still trading in the red territory, but its exchange activity has suddenly taken a different turn as bull traders appear to be awakening. Per the latest data from the crypto analytics platform CryptoQuant, Shiba Inu has seen a sudden reversal in its exchange activity as exchange outflows appear to have outpaced inflows. Despite the ongoing market downturn facing the broad crypto ecosystem, the data shows that Shiba Inu's exchange netflow is reflecting a negative balance. While negative balances are often a strong indication that demand is outweighing selling pressure, which provides a bullish outlook for SHIB, it is usually unexpected at a time like this.

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