Shiba Inu exchange netflow reads -95.7 billion SHIB as price falls over 5%
In brief
- CryptoQuant data showed SHIB exchange outflows outpacing inflows as of October 24.
- Netflow stood at -95,682,500,000 SHIB after a roughly 3% decline, per U.Today.
- SHIB price fell more than 5% over 24 hours, trading near $0.000004815.
- U.Today interpreted the negative netflow as a sign of demand; that reading is the outlet's own.
What the netflow data shows
A negative netflow means more SHIB left exchanges than arrived, and that's what CryptoQuant's data showed for Shiba Inu. CryptoQuant is a crypto analytics platform, and U.Today's report leans on its exchange flow figures. U.Today reported the -95,682,500,000 SHIB number as of October 24 (the outlet didn't specify the measurement window), and said it came after a decline of about 3% over the previous 24 hours.
The timing is what stands out. Shiba Inu's netflow stayed negative while the broader crypto market was in a downturn.
Price moved the other way
SHIB's price didn't follow the exchange data. According to U.Today, the token fell more than 5% over the same 24-hour window, lost support around $0.000005 and was trading near $0.000004815 as of October 24.
That's a clear split.
U.Today said SHIB's exchange activity was flashing a signal that contrasted with its price movement, and it's that gap (tokens leaving exchanges while the price drifts lower) that's drawing attention to the token.
How U.Today read the data
The outlet described negative netflow balances as often indicating that demand is outweighing selling pressure, and it called that unusual under current market conditions. It's a bullish reading on paper, and U.Today framed it that way. It went further than that, too. U.Today suggested traders might be accumulating SHIB on the dip, and it speculated that increased buying activity on exchanges could lead to a price recovery for SHIB (a U-turn, in the outlet's words).
Those readings are U.Today's interpretation of the CryptoQuant figures, not a forecast from LeoDex News. The data shows outflows outpacing inflows while SHIB's price slid. What holders plan to do with those tokens isn't something a netflow number tells you.
