- Increase in reserves: CryptoQuant’s Exchange Reserve metric recorded a vertical surge, reaching 80.5 trillion $SHIB tokens.
- Positive net flow: Trading platforms recorded a daily net inflow of 749.8 billion $SHIB tokens over the last 24 hours.
- Holder capitulation: The gross volume of deposits to exchange addresses rose to 1.04 trillion $SHIB tokens in a single day.
The $SHIB market is experiencing a drastic shift in investor sentiment toward late June , interrupting an accumulation trend that had extended for several months. Large holders of the asset began mass-transferring their funds to centralized trading platforms.
CryptoQuant data reveals that the Exchange Reserve indicator, which measures the total volume of coins deposited in exchange wallets, showed a vertical rebound in just a few days to stand at 80.5 trillion units of $SHIB. This sudden expansion of available supply had a direct and immediate impact on the token’s valuation. The price of the Shiba Inu ecosystem cryptocurrency dropped toward the local level of $0.0000044 dollars.
crypto-economy.com
