$380 Million in Shiba Inu (SHIB) Held on Exchanges: Will It Bounce Here?

According to data from the analytical platform CryptoQuant, around 86.04 trillion SHIB are currently held on exchanges, worth approximately $382.87 million. $380 million is somewhat of a baseline in terms of Shiba Inu holdings. The asset has been struggling for almost a year now, and $380 million is the whole supply available for sale. It's important to keep in mind that if someone triggers an 86 trillion Shiba Inu sellout, that batch won't cost $380 million. We'll be lucky to see one-third of it. Shiba Inu's liquidity is thin if we measure it against institutional appetites. Most of the holders are regular retail investors . The netflow remains negative, with around 45.5 billion SHIB leaving exchanges over the last 24 hours.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to U.Today.