Shiba Inu's selling pressure appears to be easing after a sharp drawdown across the crypto market. According to data from CryptoQuant, SHIB exchange netflow fell to just over +65 billion SHIB as of Saturday, October 10, down from hundreds of billions during the worst of the bearish activity. The positive balance still means more tokens moved to exchanges than out, but the sharp reduction suggests sellers are losing momentum. SHIB has also returned to green territory, and some analysts argue the meme token may be positioning for a recovery if demand continues to build.
Exchange flow data over the last 24 hours added a mildly bullish signal. About 133.8 billion SHIB flowed into exchanges while 161.1 billion SHIB flowed out, producing a net flow of roughly -27.3 billion SHIB. Exchange reserves slipped about 1.5% to around $471.5 million, meaning fewer tokens are available for immediate selling. Still, the 7-day average inflow rose about 13%, showing that some sellers remain active. Daily burn activity stayed subdued at only 1.45 billion SHIB, reinforcing the mixed but improving reversal picture.
Technically, SHIB trades near $0.00000541 after falling from a late-September high around $0.00000626. Price remains below the long-term average near $0.00000560, an area that has rejected upside moves multiple times. Support sits at $0.00000530, followed by the October 6 wick low at $0.00000510 and the round $0.00000500 level. A close above $0.00000560 on strong volume would give buyers control and open targets at $0.00000580 and $0.00000600. A close below $0.00000510 would invalidate the reversal setup and expose the $0.00000470–$0.00000450 summer support zone.
