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Despite a generally weak market structure, Shiba Inu is beginning to stabilize, and recent on-chain data helps explain why. Exchange netflows decreased by about 82.67 billion SHIB over the past day, suggesting a substantial withdrawal of tokens from trading platforms. This kind of movement usually indicates less immediate selling pressure, and in the case of SHIB, it seems to be offering short-term price support. Shiba Inu enters downward trend SHIB is still in a more general downward trend on the chart, trading below the 50, 100 and 200 EMAs, among other significant moving averages. However, the asset is currently creating a modest ascending support trendline, in contrast to earlier stages of the decline. The price action is narrowing into a more constrained range, indicating a temporary weakening of the bearish momentum. This change is further supported by the on-chain metrics. The recent net outflow indicates that some holders are transferring assets into private wallets rather than getting ready to sell, even though overall exchange reserves are still high.
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