Shiba Inu exchange netflow hits 77 billion SHIB, selling pressure persists

Shiba Inu (SHIB), a popular meme-based cryptocurrency, continues to experience volatile market movements, with red numbers dominating most recent trading sessions. Despite these fluctuations, new exchange data indicates that sellers may still control the market in the near term. CryptoQuant, a blockchain analytics company, has reported that Shiba Inu’s exchange netflow posted a positive balance in the past 24 hours. The netflow surged to over 77 billion SHIB, reflecting an increase of nearly 4% during the period. This spike indicates that a substantial volume of SHIB tokens has been transferred to exchanges, making them available for sale.

Also reported by U.Today.

Source: CoinTurk News