Shiba Inu Sees Massive 57 Billion SHIB Outflow: Is a Price Surge Coming?

Shiba Inu (SHIB) has jumped 9% over the past week, but its momentum has stalled in the last 24 hours, raising concerns of a potential price dip. However, a huge 57 billion SHIB outflow from exchanges signals that investors may be holding, hinting at a bullish trend ahead.

On September 23, SHIB's exchange outflow was under 4 billion, but it surged to 57 billion today, according to Santiment data. This large outflow suggests investors are moving SHIB to private wallets instead of selling, reflecting growing confidence in the meme coin's potential.

SHIB’s recent outflow spike mirrors a similar pattern from earlier in September, when its price climbed from $0.000013 to $0.000015. With a falling Network Value to Transaction (NVT) ratio signaling increased transaction volume, SHIB may be at a solid buying point, setting the stage for more gains.

Currently priced at $0.000015, SHIB has broken out of a descending triangle pattern. Technical indicators like the Relative Strength Index (RSI) and MACD show bullish momentum. If SHIB can break resistance at $0.000015, it could climb toward $0.000017. However, failure to break through might send the price back to $0.000013.

Will SHIB continue its upward trend? Only time will tell.

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