{"id":10962,"date":"2026-07-21T07:29:06","date_gmt":"2026-07-21T07:29:06","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=10962"},"modified":"2026-07-21T07:29:06","modified_gmt":"2026-07-21T07:29:06","slug":"shiba-inu-tops-0-0000042-as-exchange-outflows-and-bullish-derivatives-boost-sentiment","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=10962","title":{"rendered":"Shiba Inu tops $0.0000042 as exchange outflows and bullish derivatives boost sentiment"},"content":{"rendered":"
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Key takeaways<\/span><\/p>\n
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Shiba Inu (SHIB) trades above $0.0000042 after breaking above a key descending trendline.<\/span><\/li>\n
Five consecutive days of exchange outflows suggest investors are moving SHIB into private wallets, reducing selling pressure.<\/span><\/li>\n
Derivatives data remains bullish, with positive funding rates and a long-to-short ratio favoring buyers.<\/span><\/li>\n<\/ul>\n
Shiba Inu (SHIB) extended its recovery on Tuesday, trading above $0.0000042 after breaking above a long-standing descending trendline. Improving on-chain activity and strengthening derivatives data suggest bullish momentum is building, potentially setting the stage for further upside.<\/span><\/p>\n
Exchange outflows point to reduced selling pressure<\/h2>\n
On-chain data from CryptoQuant indicates investors have been steadily moving SHIB off centralized exchanges, a trend often viewed as a positive signal for prices.<\/span><\/p>\n
The platform\u2019s exchange netflow data recorded five consecutive days of net outflows beginning on July 17, showing that more SHIB tokens are leaving exchanges than being deposited.<\/span><\/p>\n
This pattern typically suggests investors are transferring tokens into private wallets for longer-term holding rather than preparing to sell, reducing immediate selling pressure in the market.<\/span><\/p>\n
The continued decline in exchange balances could support SHIB\u2019s ongoing recovery if buying demand remains steady.<\/span><\/p>\n
Market positioning in the derivatives sector also points to improving confidence among traders.<\/span><\/p>\n
According to <\/span>CoinGlass<\/span>, SHIB\u2019s long-to-short ratio stood at 1.02 on Tuesday, indicating a slight preference for long positions over shorts and reflecting growing optimism that prices could continue moving higher.<\/span><\/p>\n
Sentiment is further supported by funding rates. SHIB\u2019s perpetual futures funding rate turned positive on July 17 and remained in bullish territory at 0.0103% on Tuesday.\u00a0<\/span><\/p>\n
Positive funding rates indicate that traders holding long positions are paying those with short positions, a sign that bullish bets currently outweigh bearish ones.<\/span><\/p>\n
The combination of positive funding rates and a favorable long-to-short ratio suggests traders are increasingly positioning for additional gains.<\/span><\/p>\n
From a technical perspective, SHIB has improved its near-term outlook after breaking above a descending trendline that had capped price action since mid-May.<\/span><\/p>\n
The breakout places the meme coin in a stronger position to extend its recovery if buying momentum continues.<\/span><\/p>\n
The next major resistance lies around $0.0000045. A decisive close above this level could pave the way for a move toward the 50-day Exponential Moving Average (EMA), which is also positioned near $0.0000045.<\/span><\/p>\n
Momentum indicators have also turned more constructive. The Relative Strength Index (RSI) has climbed to 54 and is moving towards the 60 level, signaling that bearish momentum is fading.\u00a0<\/span><\/p>\n
<\/p>\n
Meanwhile, the Moving Average Convergence Divergence (MACD) has produced a bullish crossover, with expanding green histogram bars reinforcing the improving technical outlook.<\/span><\/p>\n
However, if the current recovery loses momentum and sellers regain control, SHIB could retreat toward its yearly low near $0.0000040, where buyers may attempt to defend the broader uptrend.<\/span><\/p>\n
Key takeaways Shiba Inu (SHIB) trades above $0.0000042 after breaking above a key descending trendline. Five consecutive days of exchange outflows suggest investors are moving SHIB into private wallets, reducing selling pressure. Derivatives data remains bullish, with positive funding rates and a long-to-short ratio favoring buyers. Shiba Inu (SHIB) extended its recovery on Tuesday, trading<\/p>\n","protected":false},"author":1,"featured_media":10963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-10962","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eurozone"],"yoast_head":"\n
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![\"\"](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/07\/ChatGPT-Image-Jul-21-2026-07_26_36-AM.png\")
\n<\/picture> <\/div>\n<\/p><\/div>\n![\"SHIB\/USD](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/07\/SHIBUSD_2026-07-21_07-23-51.png\")
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