Shiba Inu Sees $2.4 Trillion Token Surge Amid Korean Demand

Shiba Inu (SHIB) experienced an enormous influx of tokens in the last 24 hours, with gross exchange inflows reaching approximately $2.4 trillion. The price surge from about $0.0000042 to $0.0000054 has left market observers wondering who triggered this significant increase.

The data shows that a large portion of this influx was due to traders and market makers shifting positions during the rally, with exchange wallets receiving inflows. However, it's essential to differentiate between inflow and net flow: around $2.376 trillion tokens simultaneously left trading platforms despite exchanges receiving about $2.399 trillion SHIB.

The net flow of approximately 22.6 billion SHIB indicates that buyers absorbed the available supply, driving the token through its short-term moving averages. The price response is crucial in this situation, as it shows strong two-way movement rather than a massive sell-side supply increase.

A recent report from Crypto Briefing attributed the rally to unusually high demand from Korean traders and whale accumulation, which intensified due to decreased exchange liquidity. Centralized exchange reserves have dropped to about 86.1 trillion SHIB, a historical low according to CoinMarketCap's market summary.