Shiba Inu is showing early signs of a potential recovery after a prolonged corrective phase, with on-chain data pointing to renewed accumulation by buyers.
According to data from CryptoQuant, SHIB’s exchange netflow has turned negative, reaching approximately -114,647,400,000 SHIB over the past 24 hours, a decline of about 1.37%. A negative netflow indicates that more SHIB has moved out of exchanges than into them, suggesting traders are buying and withdrawing tokens rather than preparing to sell.
The shift comes as the broader cryptocurrency market continues to face increasing sell pressure and SHIB’s price has yet to fully respond to the bullish exchange activity. However, the hourly price chart has started to turn green, signaling that momentum may be gradually changing and that Shiba Inu could be positioning for a bullish reversal after recent sharp declines.
