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Analysis: Shiba Inu on-chain data shows 74 billion SHIB net outflow from exchanges, potentially signaling a price reversal
Despite Shiba Inu's recent price decline, its exchange netflow was negative 74.37 billion SHIB over the past 24 hours, indicating that the number of tokens withdrawn from exchanges for purchase purposes far exceeded those sold back to exchanges, according to crypto analytics platform CryptoQuant. Analysts believe this could signal that the asset is preparing for a potential price reversal.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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