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▲ Shiba Inu (SHIB)/AI generated image
Shiba Inu (SHIB) spot net flow surged by 283%, indicating signs of recovery from the bottom in the memecoin market, which had been under selling pressure.
According to U.Today, a cryptocurrency specialized media outlet, on May 28 (local time), Shiba Inu showed signs of approaching a stabilization phase in on-chain and market flow indicators, despite persistent long-term bearish pressure. Based on CoinGlass data, Shiba Inu exhibited a trend testing recovery potential after weeks of bearishness.
On the daily chart, Shiba Inu is trading below all major moving averages, and it has recently broken through the lower boundary of its short-term upward structure. Looking solely at price action, sellers still hold overall momentum, maintaining a downtrend with lower highs and lower lows.
However, the spot market flow has begun to change. Shiba Inu's spot net flow increased by over 283% in a short period. U.Today explained that this movement signifies a significant increase in actual buying and selling activity, not just speculative leverage. In the cryptocurrency market, spot activity is interpreted as an indicator of actual token distribution and accumulation.
According to the article, while the recovery in spot net flow does not mean the selling pressure has completely ended, it can be seen as a sign that market participants are re-entering the Shiba Inu spot market. In particular, the revival of flow in spot trading rather than derivatives is closer to an actual change in supply and demand than short-term speculative movements.
U.Today reported that although Shiba Inu has not yet confirmed a clear trend reversal, a sustained recovery in spot flow and increased trading activity could enhance its chances of breaking out of the bearish phase. Shiba Inu remains within a bearish structure until it breaks technical resistance, but the surge in spot net flow indicates that the market's one-sided selling sentiment is easing.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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