Shiba Inu's Recovery Faces New Headwinds as 241 Billion Tokens Flood Exchanges

Shiba Inu's recent recovery has been put under pressure after a significant influx of tokens onto cryptocurrency exchanges. According to CryptoQuant data, over 241 billion SHIB were transferred to trading platforms within a 24-hour period, resulting in a positive exchange netflow of 241,877,000,000 SHIB.

This increase in available supply on exchanges could provide liquidity for holders who choose to sell their tokens. Initially, SHIB advanced by about 4% during the session, allowing some traders to lock in gains from its recent recovery. However, this move subsequently faded as exchange balances increased, with the token ending the session down approximately 0.45%.

The latest SHIB exchange netflow points to increased potential selling supply at a time when the token is attempting to sustain its recovery. For buyers to maintain upward momentum, market demand would need to absorb the additional 241 billion SHIB entering exchange-controlled liquidity.