Shiba Inu's Exchange Outflow Metric Shows Significant Drop

Shiba Inu's on-chain activity has shown a stabilization in recent hours, with the exchange outflow metric experiencing a notable drop of 61% within the past day.

This decline in outflows suggests that traders and large holders are becoming less aggressive in moving their assets, which may indicate a shift towards holding onto their tokens amid market uncertainty.

Despite this stabilization, the technical outlook for SHIB remains bearish, with the price trading below key moving averages. If the broader crypto market continues to deteriorate, further declines may be possible for SHIB.