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Shiba Inu faces a critical turning point as market activity shifts
The Shiba Inu cryptocurrency continues to decline, even though its blockchain activity indicates growing trader enthusiasm. And despite the overall weakness in Shiba Inu's price, the observed data shows an increase in the volume of its withdrawals from trading platforms, suggesting a potential decrease in seller dominance.
What does negative exchange net flow mean?
In the latest data released by CryptoQuant, the net flow of Shiba Inu on trading platforms recorded a negative value of 28,304,500,000 SHIB on Saturday, June 20. This negative flow indicates that SHIB withdrawals for purchasing purposes far exceeded the number of tokens deposited back into trading platforms for sale, by more than 28.3 billion tokens, suggesting a possible slowdown in selling momentum.