Shiba Inu Price Struggles After 92 Billion SHIB Inflows

About 92 billion SHIB joined the platforms in one day, while the price of Shiba Inu remained under pressure. The number seems considerable, but it barely represents 0.11% of the reserves held on the exchanges: the real problem mainly comes from the lack of buyers. The net inflows of Shiba Inu on the platforms reached 92.07 billion tokens in 24 hours, according to CryptoQuant. Deposits totaled 324.28 billion SHIB, against 232.21 billion withdrawn during the same period. A positive net flow means that more tokens arrived on the exchanges than left. These SHIB can be sold quickly, which theoretically increases the available pressure on the market. A deposit however does not prove that a sale actually took place. The economic amount therefore remains modest despite an impressive number of tokens.

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