92 billion SHIB flow into exchanges highlights selling pressure

Shiba Inu (SHIB) continues to face mounting selling pressure as large volumes of the meme coin have recently moved onto cryptocurrency exchanges, signaling caution among traders and investors. Recent on-chain data indicates that 92.07 billion SHIB tokens have flowed into exchanges on a net basis, raising concerns about potential further declines as the token struggles to generate bullish momentum. Analytics platform CryptoQuant reported that SHIB’s net exchange flow reached 92.0678 billion, marking a 0.77% increase in the past 24 hours.

Source: CoinTurk News