Shiba Inu received a new back signal after a rebound in August. The chain data show that the net inflow of the exchange has been positive for two days in a row, and the price of the SHIB has returned to the integer level of US$ 0.00005, and the market's focus on short-line sales pressure has risen.
Two days net inflow maintained high
CriptoQuant data show that on August 29th there were approximately 14,5.9 billion SHIB net inflows to the exchange. The so-called positive net inflow means that more wallets than outflows enter the monitored exchange, with a consequent increase in tradable chips in the market.
The previous day, the SHIB Exchange had a net inflow of about 261.7 billion. Although the scale of the days was lower than the previous day, it remained positive for two consecutive days, suggesting that the pressure on sales had not been significantly reduced.
It should be noted that net inflows do not mean that these tokens will be sold immediately. Some of the funds may also be used for market, mortgage or warehouse adjustment, but this indicator is usually seen by the market as a sign of an increase in short-term supply.
In August, after the rebound, the motion was reduced.
SHIB once rebounded in mid-month with the encryption market as a whole. The data show that on August 18, the token was about US$ 0.000044, and on August 21, it rose to US$ 0.0000590 and later slowed up.
CoinGecko historical data show that SHIB received approximately US$ 0.0000519, on 28 August, about 12 per cent below its earlier level. This means that part of the increase in late August has already been threw back.
In terms of movement, this round rebound is more driven by a return to overall market risk, rather than by a single catalytic effect from Shiba Inu ecology. The performance of SHIB during the rebound phase is not significant compared to some of the mainstream encrypted assets.
0.00005 for short-line observation
The current market focus is around US$ 0.00005. If prices continue to fall in this position, SHIB may repulse further in late August, and the oscillation signals released by the net inflow of the exchange may be magnified.
However, the inflow of exchanges alone is not enough to judge the subsequent trends. SHIB continues to carry out the destruction of tokens, but the current scale of destruction has a more limited impact on short-line prices than its supply of approximately 58.9 trillion.
Next, the market will continue to observe whether the purchase will re-emerge in the vicinity of US$ 0.00005, and whether the coins that previously entered the exchange will further translate into deeper price reversals.