212,479,300,000 SHIB Withdrawn from Exchanges — On‑Chain Metric Signals Renewed SHIB Demand
On-chain data from CryptoQuant shows a net outflow of 212,479,300,000 SHIB from exchanges over the past 24 hours, indicating strong buy-side demand for Shiba Inu (SHIB). The outflow means more tokens were withdrawn for holding or off-exchange custody than were deposited for sale, a shift from prior bearish exchange flow signals. SHIB’s price posted large gains over the prior two–three days (daily increases above 15% at peak) and is trading modestly higher over the last 24 hours (+0.85%) after a short cooling period. Analysts interpret the negative exchange netflow as renewed retail and institutional interest, which could support further price recovery if buying pressure continues. The article notes broader market volatility preceding the move but emphasizes that current exchange movements point to elevated demand for SHIB.
Bullish
A large negative exchange netflow (212.48 billion SHIB) is a classic bullish on-chain signal: tokens leaving exchanges reduce immediate sell liquidity and typically reflect accumulation by holders or wallets, often preceding price appreciation. The recent price surge (daily gains >15% at peak) combined with sustained withdrawals suggests renewed retail and possible institutional demand. Short-term, expect continued upward pressure if outflows persist and macro conditions remain stable; however, price may consolidate or pull back after rapid gains, as seen in the modest 0.85% 24-hour rise following the spike. Long-term impact depends on whether withdrawals represent long-term accumulation versus temporary custody (e.g., CEX to OTC trades or staking/utility moves). Past instances (e.g., major coin accumulation phases) show sustained outflows often precede multi-week rallies, but traders should watch exchange balances, whale wallet activity, and overall market volatility for confirmation and risk management.