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Approximately 92 billion SHIB flowed into exchanges in 24 hours, signaling renewed selling pressure
Approximately 92.07 billion Shiba Inu (SHIB) tokens flowed into cryptocurrency exchanges on a net basis over the last 24 hours, reflecting increased selling pressure. CryptoQuant data shows this net inflow represents a 0.77% rise, with total inflows at 324.281 billion SHIB and outflows at 232.2131 billion SHIB. This suggests traders may be positioning to liquidate holdings amid market volatility. Exchange reserves for SHIB increased by 0.11% to 86.2525 trillion SHIB, but their dollar value declined by 2.9% to about $418.32 million, indicating weakening market valuations. Similar exchange activity was observed on October 23, with 77.3 billion SHIB in net inflows.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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