Latest on-chain data on the Shiba Inu market showed that movement on exchanges has turned negative again. According to CryptoQuant data, while the amount of SHIB sent by investors to exchanges for sale increased, there was a significant slowdown on the demand side.
The amount of SHIB directed to the stock exchanges increased
Data revealed that SHIB net exchange inflow increased to 69,237,400,000 tokens. This table indicated that the amount of SHIB entering the stock exchanges in the last 24 hours remained above the amount withdrawn from the stock exchanges for purchasing purposes.
Net flow turning positive indicates that more SHIBs in circulation are becoming available for sale. This situation is generally attributed to increased selling pressure and weakening market demand in the short term.
CryptoQuant data reveals that the amount of SHIB sent to exchanges for sale in the last 24 hours significantly exceeds the amount withdrawn for purchase purposes.
Price action diverged from data
In contrast, the SHIB price moved in the opposite direction during the same period. Shiba Inu is up more than 10% in the last 24 hours, retracing the $0.000004566 level and reclaiming its previous peak.
Under normal circumstances, increasing token inflows to the exchanges can put downward pressure on the price. However, this time the market behavior was different and the price moved up despite the selling trend.
| Indicator | Situation |
|---|---|
| SHIB net stock market flow | 69,237,400,000 SHIB |
| 24 hour price change | over 10% increase |
| level taken back | $0.000004566 |
Buyers welcomed additional supply
This divergence between price and net flow suggests that the additional supply entering the market is covered by buyers. In other words, although the amount of SHIB moved to the stock exchanges increased, the buying interest prevented the price from declining for now.
Shiba Inu is known as a meme coin developed on the Ethereum network and stands out especially with individual investor interest. Latest data has once again revealed that on-chain indicators and price movement may not always go in the same direction in the short term.
The rise in SHIB price indicates that buyers have significantly balanced the selling pressure despite the high token inflow to the exchanges.
