Crypto
Shiba Inu Transfer Surge Sends Signal of Selling Pressure
Shiba Inu's recent surge in transfers to exchanges has sent a signal of increased selling pressure. The past 24 hours have seen a net flow of approximately 75 billion tokens into exchanges.
The reserve on exchanges has risen to 87.36 trillion SHIB, valued at $477 million.
With the price of SHIB approaching the resistance range of $0.0000056 to $0.0000057, sales liquidity has increased.
If the price remains above the support range of $0.0000051 to $0.0000052, it may indicate that additional supply is being met.