Shiba Inu (SHIB) market performance remains weak long-term. However, recent on-chain data has shown that the asset may be approaching a balance point after weeks of ongoing selling pressure. According to CoinGlass data, transaction activity especially in the spot market is noteworthy.
Technical outlook and short-term trends
On daily charts, SHIB is trending below all major moving averages. Recently, the price also broke through the lower boundary of a short-term ascending channel, allowing sellers to maintain control over the market. Lower lower tops and bottoms have been forming for some time now. This technical structure indicated that the downtrend was continuing.
Movement in the spot market and stock market outflows
However, some significant changes have emerged in the on-chain data flow. First of all, net flow in the spot market increased by 283 percent in the short term, indicating a noticeable increase in direct token trading. Since spot transactions directly reflect the exchange of tokens, they are considered more effective than derivative transactions.
Analysts evaluated: “There is a serious movement in the spot market, which may be decisive in terms of liquidity and demand in the short term.”
In addition, the amount of SHIB in stock exchange reserves is about to approach the 80 trillion level. This means that the number of tokens ready to be traded directly on exchanges is decreasing.
Mini dictionary: CoinGlass is a popular analytics platform that provides real-time on-chain and derivatives data on crypto markets.
Latest data shows that outflows from stock markets reached 580 billion SHIB, while inflows remained at 461 billion. Generally, tokens withdrawn from the exchange means that the selling pressure has decreased, meaning that investors tend to hold their assets for a longer term.
| Metric | Value |
|---|---|
| Stock Exchange Exits | 580 billion SHIB |
| Stock Exchange Entries | 461 billion SHIB |
| Stock Exchange Reserve | Approached 80 trillion SHIB |
| Spot Net Flow Increase | 283% |
Derivative markets and the general market environment
On the derivatives front, the picture is more complex. On the futures side, net inflows are irregular and negative from time to time. It is also stated that liquidation amounts remain low. This shows that the market is neither experiencing a sudden selling wave nor a rapid recovery.
Uncertainty continues regarding crypto assets in general. Bitcoin went horizontal after its recent rise. In altcoins, investors have difficulty finding a clear direction. In this process, it is observed that capital flows are directed to certain cryptocurrencies and liquidity to certain regions.
Main indicators: Balance and possible bottom signals
The decrease in stock exchange reserves, the increase in outflows and the rapid increase in spot transactions indicate that the selling pressure has eased. However, it is too early to say that a clear recovery has begun in SHIB. It is stated that if market conditions stabilize and there is no sharp correction in Bitcoin, Shiba Inu may form a local bottom earlier than expected.
