133% Surge: Shiba Inu Spot Flows Flip Positive, What It Means
Analysis
Price Impact
HighThe shiba inu market is experiencing high volatility. while positive spot flows indicate immediate selling pressure and the occurrence of a weekly death cross signals bearish momentum, there's also a speculative analysis suggesting this could be a 'bear trap' leading to a potential 100% rebound if a bottom is established.
Trustworthiness
MedThe analysis uses real-time spot flow data from coinglass and technical analysis (death cross). however, the 'bear trap' scenario and potential 100% rebound are speculative, based on historical patterns rather than guaranteed outcomes.
Price Direction
NeutralCurrently, the price direction is bearish due to positive net inflows to exchanges (indicating selling pressure), an ongoing sell-off, and shib hitting new lows, coupled with a weekly death cross. however, the article presents a contrasting possibility where the death cross acts as a bear trap, potentially setting a bottom around $0.000007 and leading to a significant bullish reversal up to $0.000014. this creates a neutral stance for future direction due to conflicting immediate and speculative long-term signals.
Time Effect
LongWhile immediate spot flows reflect short-term selling pressure, the core of the analysis revolves around the weekly death cross – a long-term technical indicator – and the potential for a significant, long-term price reversal (100% gain) if the 'bear trap' scenario plays out. establishing a price bottom and a subsequent rebound typically requires a longer time horizon.
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Shiba Inu saw its spot flows flip positive early Saturday session as investors deposited tokens to exchanges in response to the selling pressure seen across the markets. Advertisement In the last 24 hours, Shiba Inu reported $11.43 million in inflows, according to spot flows data provided by CoinGlass , while outflows totaled $11.27 million. The net difference yields a positive inflow of $162,350, representing a net inflow increase of 133%. A positive netflow suggests the presence of selling pressure in the market, reflecting the current bearish sentiment in the market, which saw Bitcoin and other major cryptocurrencies reach new yearly lows. HOT Stories Crypto Market Prediction: Worst Bitcoin (BTC) Candle in History? Will XRP Reach $1 Hard Reset? Ethereum Hiding Enormous Bullish Potential 'Rich Dad Poor Dad' Author Sells His BTC Holdings After Predicting $250K per Coin Bitcoin on the Verge of 30% Collapse Against Gold, Shiba Inu (SHIB) Burn Rate Jumps 23,864%, XRP Price Drops Below $2 Despite ETF Launch — Crypto News Digest Hayes: Bitcoin Bottom Is Near, But There's a Catch Shiba Inu is extending its sell-off since Nov. 18 into the fourth day, as bears showed no respite in the markets. Advertisement Shiba Inu hit lows of $0.00000754 on Friday, as the crypto market extended a sell-off fueled in part by a liquidity crunch that followed October's sell-off and liquidation event. The drop in Shiba Inu's price coincides with its first ever weekly death cross. Shiba Inu bottom reached? Shiba Inu completed its first ever death cross on the weekly chart. While the indicator typically forebodes potential bearish momentum, there remains a little bit of positivity. The ominous-sounding pattern in certain instances has proven to be a bear trap, marking bottoms and bullish trend reversals. If this is the case, Shiba Inu will seek to establish a price bottom in the $0.000007 range. If the price rebounds, the next major resistance levels based on the weekly chart are in the $0.000014 range, which suggests a potential 100% rise from current levels if bulls return back to the game. The broader market sentiment will be watched to determine what's next for Shiba Inu's price direction. The market has hitherto struggled to find new buyers, and the momentum that had supported prices earlier in the year evaporated; if buying pressure returns to the market, Bitcoin, Shiba Inu and the rest of the crypto market might rebound. #Shiba Inu (SHIB) News #Shiba Inu