Shiba Inu (SHIB) Outflows Spike 883% as Price Climbs to $0.00002413
Highlights:
- Massive Outflows: SHIB outflows soar 883%, reaching 1.11 trillion tokens as price rebounds to $0.00002413.
- Price Surge: SHIB records a 14% weekly gain and an 8.78% daily increase amid significant token movements.
- Market Demand: Despite heavy outflows, strong buying interest supports price recovery.
Shiba Inu (SHIB) has experienced an extraordinary 883% surge in token outflows over the past week. Data from IntoTheBlock reveals that outflows rose from 647 billion SHIB to 1.11 trillion between January 15 and January 16. This significant movement has raised questions about the factors driving such large-scale shifts.
SHIB Outflows See an 883% Spike
The sharp increase in SHIB outflows appears linked to profit-taking and market adjustments by large holders. Some investors sold SHIB when its price dipped to $0.0000196 earlier in the week.
Interestingly, this surge in outflows coincided with a nearly 10% price rebound in a single day. While some investors exited their positions, robust buying activity absorbed the sell orders, likely driven by smaller whales and retail buyers seizing the opportunity at lower prices.
SHIB Price Rallies Amid Strong Buying Pressure
Despite substantial outflows, Shiba Inu’s price has shown resilience, climbing from $0.000022 to $0.0000246 within a day. SHIB has gained 8.78% in the last 24 hours and 14% over the past week, signaling renewed market interest.
On-chain metrics, such as increased trading volumes and heightened activity among large shareholders, highlight strong buying pressure that has counterbalanced the selling. This sustained demand indicates a bullish sentiment for SHIB despite the heightened outflows.
On-Chain Data and Future Growth Potential
On-chain data shows a 177% increase in large holder inflows over the past week, suggesting that whales are still accumulating SHIB. Additionally, SHIB is trading near the 0.786 Fibonacci retracement level, a key support zone for price rebounds.
Technical analysts point to a symmetrical triangle pattern forming on SHIB’s price chart over the past six months. A breakout above the critical $0.00003 resistance level could trigger a sharp rally. 
Bullish Projections for Shiba Inu
Market analysts predict substantial gains for SHIB if it breaks out of its current pattern. CryptoELITE projects an 850% price surge, targeting $0.00023 in the next major rally. Similarly, Alan Santana forecasts that SHIB could reach $0.00023 within the year, citing its strong momentum and favorable price structure.
At the time of writing, SHIB is trading at $0.00002413, with bullish sentiment dominating the market as trading volume and demand continue to rise. The cryptocurrency’s performance suggests strong potential for further growth in the coming months.
