The leading meme-asset Shiba Inu is trying to break through the price against the backdrop of prolonged volatility, as fund movements on exchanges begin to signal increasing demand.
After several days of positive dynamics, the flow of funds on exchanges for Shiba Inu decreased by about 1% in the last day.
This decline indicates that the number of tokens sent to exchanges for sale in the last day was significantly lower than the number of Shiba Inu tokens acquired on exchanges.
According to the analytical platform CryptoQuant, the net inflow of Shiba Inu funds on all supported cryptocurrency exchanges as of January 25 is -31,737,600,000.
Cryptoquant Data
Currently, Shiba Inu is trading in the red zone, down 1.45% over the last day. At the same time, the decrease in net flow on exchanges indicates rising demand, and a price correction may be nearing completion.
The net flow $SHIB represents the difference between the inflow and outflow of Shiba Inu tokens on exchanges. This means that the volume of SHIB tokens withdrawn from exchanges during large purchases exceeds the volume of tokens returned to exchanges for sale by more than 30 billion tokens.
It seems that many small and large SHIB holders have lost interest in selling their assets. Instead of a prolonged panic sell-off caused by waning investor sentiment, long-term holders are moving their tokens to self-custody wallets to hold them.