Shiba Inu Faces Potential Correction as Bitcoin Rebounds Amid Inflation Concerns
In the wake of Bitcoin's resurgence past the $41,000 mark following cooling inflation reports, the crypto market experienced a brief uptick in buying demand. Meme coins, notably Shiba Inu (SHIB), witnessed a recovery from recent lows. However, as the crypto market braces for potential corrections, Shiba Inu faces challenges despite a surge in price.
Netflow Dynamics: Accumulation and Potential Correction
Shiba Inu recently weathered a steep decline, resulting in over $1.5 million in long liquidations. The crypto's recovery followed reports of a cooling inflation rate, prompting increased accumulation near its recent lows. However, a noteworthy development is the reversal of Netflow from negative to positive.
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