Shiba Inu Sees 75 Billion Token Surge to Exchanges Amid Price Volatility
Shiba Inu (SHIB) has seen an influx of tokens to exchanges in the past 24 hours, with net exchange flows increasing by around 75 billion SHIB. This rise in inflows could potentially lead to selling pressure on the token's price.
The total amount of SHIB on exchanges now stands at approximately 193.32 billion, while outflows have reached about 131.59 billion. The difference between these two figures leaves net flows at roughly 61.73 billion SHIB.
Exchange transfers can occur for various reasons, and it's essential to note that consistent positive net flows typically boost the immediately liquid supply of a token.
Looking at exchange reserves, we see that exchanges hold about 87.36 trillion SHIB, which has increased by 0.07% in the last day. The value of these reserves is around $477 million, up 0.44%.