Shiba Inu Exchange Inflows Soar by 75 Billion Tokens Amid Price Recovery

Shiba Inu's recent price recovery has led to a significant increase in exchange inflows, with net flows rising by approximately 75 billion tokens in just 24 hours. According to on-chain data, this influx of tokens could lead to more selling pressure.

The total number of Shiba Inu tokens currently held in exchange reserves is around 193.32 billion, with 131.59 billion tokens having been withdrawn. The net amount going towards exchanges has increased by about 75 billion tokens when compared to the previous reading.

While this does not necessarily mean that holders will sell their Shiba Inu tokens, consistent positive net flows can boost the immediately liquid supply. Exchange reserves have also seen an increase, with around 87.36 trillion tokens currently held, up by 0.07 percent in the last day.

The price of Shiba Inu is currently trading at around $0.00000543, after making a significant comeback from its August low near $0.0000044. However, resistance is approaching swiftly, with the 200-day moving average located at $0.00000568 being a key technical barrier.