Shiba Inu Exchange Flow Flips Bullish Amid Crypto Market Volatility

Shiba Inu's exchange flow has turned bullish as traders show conviction in the meme token. According to CryptoQuant, $28 billion worth of SHIB tokens left exchanges for buying purposes over the last day, surpassing the amount returned by over 28 billion.

This indicates a rise in demand and a decrease in selling pressure. Despite this, Shiba Inu's price remains in the red, down 1.28% over the past 24 hours and trading at $0.000004710 as of June 20th.

Analysts believe that if demand persists, the asset will turn positive soon. However, it is essential to note that this bullish outlook arrives during a time when the broader crypto market shows signs of potential recovery, with Bitcoin and XRP prices showing modest gains.