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U.Today Analysis: Shiba Inu (SHIB) Burns 1 Billion Tokens in 24 Hours, But Exchange Inflows Increase, Price Retreats to 200-Day Moving Average
U.Today analysis indicates that despite Shiba Inu burning 1 billion tokens within 24 hours, on-chain data shows that the average exchange inflow increased by 1.98% in one day, reaching approximately 1.1 billion SHIB. The top ten inflow transactions totaled about 5.4 billion SHIB. After failing to break through the $0.0000060-$0.0000062 range, SHIB's price is currently trading at approximately $0.00000568, falling back to near its 200-day moving average of $0.0000056-$0.0000057, which presents a new obstacle for a bullish breakout.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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