Shiba Inu Price Prediction: Bullish On-Chain Signals Point to More Upside
- Exchange outflows suggest declining selling pressure and growing investor confidence in SHIB.
- Bullish derivatives metrics support continued upside momentum for Shiba Inu.
- Technical breakout targets $0.0000045 while $0.0000040 remains key support.
Shiba Inu has returned to the spotlight after posting a strong technical breakout that caught traders' attention. The meme coin climbed above $0.0000042 after breaking a descending trendline that had capped price action since mid-May. That move has encouraged fresh optimism across the market. Beyond the chart, improving blockchain data and derivatives activity also point to growing confidence among investors.
Exchange Outflows and Derivatives Paint a Stronger Picture
The latest on-chain data suggests selling pressure has started to ease. According to CryptoQuant, SHIB has recorded five consecutive days of exchange net outflows since July 17. This trend means investors have moved more tokens from exchanges into private wallets instead of leaving them available for sale. Such behavior often reflects growing confidence because long-term holders usually transfer assets off exchanges when they expect higher prices. Lower exchange balances can also reduce immediate selling pressure, creating healthier market conditions for a sustained recovery.
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