Shiba Inu Exchange Deposits Surge Amid Selling Pressure Risks
Shiba Inu (SHIB) exchange deposits have reached an average of approximately 818.3 million tokens, marking a 0.97% increase from the previous period, according to CryptoQuant.
The latest flow data shows that more SHIB is moving onto exchanges, where it can be readily traded. While increased exchange deposits do not necessarily indicate holders intend to sell, a sustained rise in supply on exchanges can add potential selling pressure if demand fails to absorb it.
Total SHIB inflows reached 287.59 billion tokens, compared with 174.88 billion in withdrawals, resulting in a positive netflow of 112.71 billion SHIB.
Large transactions accounted for a significant portion of the latest movement, with the 10 largest exchange inflows transferring 5.67 billion SHIB and the 10 largest withdrawals amounting to 1.95 billion tokens.