Shiba Inu net inflow reaches 63.49 billion SHIB, exchange reserves rise

Shiba Inu, a popular Ethereum-based meme coin with a large online community, is currently trading around $0.00000503. Recent on-chain data suggests that only a limited number of holders are moving SHIB tokens off centralized exchanges. The latest data recorded just 538 withdrawal transactions over a recent period, a notably low figure for such a widely held token. While the total count of withdrawals exceeds deposits, the overall amounts involved point in a different direction. Exchanges observed inflows of 247.06 billion SHIB, while outflows reached only 183.58 billion SHIB. As a result, exchanges saw a net inflow of 63.49 billion SHIB. When more tokens move to exchanges than leave, this typically signals bearish sentiment, as those tokens are easily available for sale.

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