Shiba Inu Sell Pressure Skyrockets as 241 Billion Tokens Flood Exchanges

Shiba Inu's latest price movement has seen a significant influx of tokens into exchanges, increasing the sell pressure on the cryptocurrency. According to data from CryptoQuant, investors have been moving their SHIB tokens to exchanges for sale, with a total of 241.877 billion SHIB entering exchanges over the past 24 hours.

The price of SHIB had initially risen by around 4% at the start of the day, but later dropped by approximately 0.45%. This fluctuation has led to an increase in short-term profit-taking sales following the recent price recovery.