Shiba

bullish

Burn

Read

Shiba Inu

<ul class="news-points wp-block-list">
 <li>Shiba Inu investors are gradually shifting to exchange-based custody.</li>
 <li>The shift indicates that the sell pressure is mounting for Shiba Inu (SHIB).</li>
 <li>SHIB burn rate crashed 99% in the past 24 hours as well.</li>
</ul>
Shiba Inu (SHIB), the second-largest meme coin by market cap ($10.72 billion), could become volatile as investors move their tokens from self-custody to exchanges. This suggests that selling pressure is building.
According to the <a href="https://cryptoquant.com/asset/shib/chart/exchange-flows/exchange-netflow-total?exchange=all_exchange&amp;window=DAY&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=column" target="_blank" rel="noopener noreferrer nofollow">data</a> from CryptoQuant, the net inflow of SHIB to exchanges has surged. This means investors are sending their tokens to exchanges rather than holding them in their wallets, which could lead to increased volatility as selling pressure builds.
<h2 class="wp-block-heading" id="h-bullish-factors-for-shiba-inu">Bullish Factors for Shiba Inu</h2>
Despite this bearish signal, there are also bullish signs for Shiba Inu. First, Shibarium, Shiba Inu’s layer-2 scaling solution, has seen a significant increase in daily transactions, jumping from 28,110 on October 18th to 324,590 on October 19th. As of October 21st, transactions on Shibarium stand at 128,000, and the platform boasts over 1.8 million wallet addresses.
Read more : <a href="https://coinedition.com/shiba-inu-burn-rate-surges-14575-shib-price-jumps-on-token-scarcity/" rel="noopener noreferrer nofollow">Shiba Inu Burn Rate Surges 14,575%, SHIB Price Jumps on Token Scarcity</a>
Anoth…
The post <a href="https://coinedition.com/shiba-inu-shib-volatility-expected-as-investors-move-tokens-to-exchanges/" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Volatility Expected as Investors Move Tokens to Exchanges</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Shiba Inu (SHIB) Volatility Expected as Investors Move Tokens to Exchanges

Table of Contents

Coin Edition

Other articles published on Oct 22, 2024

Altcoin Market Slumps: Ethereum, Solana, and Sui Lead the Decline

Ki Young Ju Shares Insights on Bitcoin Investments from 13F Filings

Budget 2025: France Risks A Major Economic Crash

How Much Will SUI Be Worth in 2025 If Bitcoin Price Hits $100k?

There’s a New $1 Billion Development Involving XRP

Ripple Moves $109 Million in XRP Tokens and Sees Market Activity Surge

Join our free newsletter for daily crypto updates!