SHIB, 28.1 Billion SHIB Net Outflow from Exchanges in a Day... Weakness Continues Despite Improved Demand

A net outflow of 28.1 billion SHIB from exchanges occurred in the past 24 hours, according to blockchain media outlet The Today. This represents one of the largest exchange outflows in SHIB's recent history. Net outflow indicates more funds left exchanges than entered, typically signaling reduced short-term selling pressure as these funds are not immediately available for selling. However, SHIB prices have continued to decline despite the large outflow. While SHIB broke out of a short-term consolidation range, it remains below key moving averages. The continuous decline in high and low points indicates ongoing selling pressure. On-chain metrics showed mixed trends, with slight increases in transaction volume, active address count, and active transfer address count despite the price drop. This suggests network activity hasn't completely disappeared, though sustained improvements over a longer period would be needed to signal a consolidation phase. Exchange reserves exceeding 80 trillion SHIB also play a role. Even with thousands of billions of SHIB leaving daily, it's difficult to significantly alter the overall supply structure. It remains difficult to interpret the bottoming signal based solely on exchange outflows before SHIB recovers key resistance and creates a higher low.