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Crypto

Shiba Inu Tokens Flood into Exchanges Amid Price Surge

Guavy AI Editorial Team
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SHIB
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Shiba Inu's token has seen significant movement in the last 24 hours. According to recent data, over 226 billion SHIB tokens have flowed into exchanges as of August 1st.

The net flow on exchanges is down by more than 97% compared to the previous day, indicating a shift towards selling pressure. Despite this trend, SHIB's price has surged by over 7% in the past day, diverging from on-chain data.

This latest movement follows a similar increase of over 30% in just one day last week for the token. It remains to be seen how long this surge will continue and what its impact may be on the market.

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