111.8B SHIB Outflow May Prompt 108% Shiba Inu Price Rally
The post 111.8B SHIB Outflow May Prompt 108% Shiba Inu Price Rally appeared on BitcoinEthereumNews.com.
Shiba Inu (SHIB) price is rangebound in a tight accumulation zone after breaking out of a downtrend. With a massive spike in exchange outflow, the chances of an explosive SHIB rally are not unlikely. Here are some key levels to watch where investors can accumulate this dog-based meme coin.. SHIB Outflow Suggests Accumulation Data from CryptoQuant suggests total SHIB transactions also increased from 6,200 to 7,510. Yet despite the surge in activity, the token’s price remained unmoved. Shiba Inu total transaction count 1 – week chart Historically, a divergence like this with a spike in transaction count and flat price action points to one of two scenarios – accumulation or distribution. An accompanying chart of SHIB’s exchange netflow underscores a bullish case (accumulation). Shiba Inu posted a negative exchange netflow of 111.8 billion tokens on May 20, suggesting a large-scale transfer of the asset from exchanges into self-custody or cold wallets. This behavior from investors typically signals confidence and long-term holding ability. Hence, this bullish development aligns with the aforementioned spike in the transaction count metric. Shiba Inu exchange netflow 1 – week chart Shiba Inu Price Prepares For a Triple-digit Rally to $0.00003175 SHIB is trading at $0.00001428 and is trending within a consolidation phase after breaking out of the multi-week downtrend. This range extends from $0.xxxx to $0.xxxxx and could be hinting at a potential bottom. In such a case, the next phase of the uptrend involves a rally to $0.00001527, where Shiba Inu’s price will most likely slip into consolidation. This development is reminiscent of an uptrend, where the asset’s price enters a brief accumulation phase after an explosive move to the upside. A decisive daily candlestick close above $0.00001527 could trigger a bullish breakout — and based on previous price cycles, a 108% rally to $0.00003175…
Filed under: News - @ May 21, 2025 1:24 am