Shiba Inu Hits Record Exchange Reserves, But Price Remains Stagnant
Shiba Inu (SHIB) has reached a new milestone in its exchange activity, with a total of 87.5 trillion tokens held on trading platforms.
This marks a decline of 0.18% from the previous day's reserves, according to the latest on-chain data.
The seven-day chart shows that exchange reserves have been declining after a period of accumulation, which is significant in this context.
Despite the decrease in reserves, the absolute supply of SHIB remains very large at 87.5 trillion tokens.
A more telling signal is provided by netflow data, which shows a 24-hour decline of 4.73% and a total exchange netflow of -159.4 billion tokens.
This indicates that withdrawals exceeded deposits during the measured period, known as a negative netflow.
The USD exchange reserve fell by 1.67% to around $403.49 million, primarily reflecting SHIB's poor price performance.
However, some positive network signals are present, including an increase in the total number of transactions and active addresses.