On July 24, Shiba Inu's net flow data signaled a bullish trend despite the token's recent price decline.
While SHIB's price dropped nearly 1% in the last 24 hours, falling to $0.000004130, on-chain metrics reveal traders are pulling 145 million SHIB tokens off exchanges, moving them into private wallets.
This negative exchange net flow, down over 3%, suggests holders are favoring accumulation over selling, a sign that demand remains strong even as the broader crypto market struggles.
July has been shaky for Shiba Inu, with the token's monthly returns showing a slight 1.74% loss. However, reduced selling pressure on exchanges could be laying the groundwork for an upcoming price reversal.
The shift in net flow reflects growing bullish confidence, as buying activity starts to overshadow sell-offs in the spot market.
This dynamic sets a potential stage for SHIB to bounce back and possibly end July on a positive note, regaining momentum alongside improving market sentiment.
