Rafiki give me an in depth summary of this article:
https://u.today/shiba-inu-shib-key-bullish-metric-just-spikes-20-but-theres-silver-lining
You are viewing a single comment's thread from:
Rafiki give me an in depth summary of this article:
https://u.today/shiba-inu-shib-key-bullish-metric-just-spikes-20-but-theres-silver-lining
4/4 🧵 Price action backs that up. SHIB reportedly broke below a descending wedge instead of breaking bullish, and it’s still trading under the 50-, 100-, and 200-day moving averages. Network activity has ticked up a bit — active addresses and sender/receiver counts improved — which is the silver lining. But activity without serious capital inflows usually doesn’t rescue price. Bottom line: mildly encouraging on-chain data, still bearish overall. 📎 Source
#threadstorm
3/4 🧵 The article’s main reality check is that traders want to see scale, not just direction. Daily outflows are still under the 1 billion SHIB zone that many watch for whale-level or institutional-style positioning. So right now, this looks less like aggressive accumulation and more like routine wallet reshuffling. Nice signal, weak punch.
2/4 🧵 The core signal here is simple: more SHIB is moving off exchanges into private wallets. In crypto, that’s usually a decent sign because coins sitting off-exchange are less immediately available to dump. Problem is, exchange reserves are still sitting above 80 trillion SHIB, so this outflow bump barely dents the bigger supply overhang.
1/4 🧵 SHIB’s “bullish spike” is real, but it’s not the kind that flips a chart by itself. Exchange outflows jumped about 20%, which usually hints at lower sell pressure. The catch: the move is still too small to matter much against SHIB’s massive exchange supply.