Shiba Inu’s exchange activity has turned bullish even as the meme token continues to trade lower amid broader crypto market weakness. According to data from CryptoQuant, SHIB's exchange netflow on October 24 stood at -95,682,500,000 SHIB, meaning outflows from exchanges significantly outpaced inflows over the previous 24 hours.
The negative netflow emerged after a modest decline of about 3% over the period, while SHIB itself slumped by more than 5% in the same timeframe. The token lost support around $0.000005 and was hovering near $0.000004815 as of October 24.
A negative exchange netflow is often considered a bullish signal because it suggests that investors are moving tokens off exchanges into custody or cold storage, which reduces immediate selling pressure. Analysts noted that the divergence between weakening price action and rising outflows may indicate traders are accumulating the dip, potentially positioning the asset for a price recovery.
