SHIB rises 5% but 144.87 billion token inflow to exchanges signals selling pressure
- —SHIB rose more than 5% in 24 hours, returning above $0.0000055
- —Net SHIB inflow to exchanges reached 144.87 billion tokens on September 19
- —Inflows to exchanges exceeded outflows by more than 144 billion SHIB
- —Analysts suggest the rally lacks demand and may be brief
Why it matters: Rising token inflows to exchanges typically foreshadow selling pressure, casting doubt on the break of the $0.000006 level.
Source: U.Today