251.2 Billion Inflow vs 247.7 Billion Outflow...Shiba Inu (SHIB), Not a Large-Scale 'Dump'?

▲ Shiba Inu (SHIB)/ChatGPT generated image

251.2 billion SHIB of Shiba Inu (SHIB) flowed into exchanges in a single day. However, it is difficult to conclude that investors engaged in a large-scale sell-off.

According to U.Today, a cryptocurrency specialized media outlet, on August 3 (local time), Shiba Inu that flowed into centralized exchanges in the last 24 hours totaled 251.2 billion SHIB. During the same period, the volume that exited exchanges also amounted to 247.7 billion SHIB.

The net inflow amounted to only about 3.45 billion SHIB. This means that inflows and outflows moved at a similar pace. Although the trading volume increased, there was no unilateral accumulation of selling volume.

Exchange holdings also showed no significant change, remaining at approximately 87.26 trillion SHIB. If investors had rushed to sell, exchange holdings should have significantly increased. The actual figures suggest the possibility of investor position adjustments rather than a massive exodus.

Network participation indicators also did not weaken. Active sending addresses increased by 0.79% and active receiving addresses by 0.83% in a single day. This was interpreted as stable participation continuing rather than user activity decreasing.

Shiba Inu broke out of its long-term downtrend with increased trading volume, but its upward momentum slowed near the 200-day moving average. The Relative Strength Index (RSI) declined to approximately 58 from the overbought zone. It is difficult to conclude that investors engaged in a sell-off based solely on the surge in exchange inflows; analysis suggests that short-term position readjustments occurred while inflows and outflows remained balanced.

[Article Summary]

-Shiba Inu exchange inflows recorded 251.2 billion SHIB over 24 hours.

-Exchange outflows also amounted to 247.7 billion SHIB, leaving a net inflow of only about 3.45 billion SHIB.

-Considering exchange holdings and network activity, the trend is closer to position adjustment than a large-scale sell-off.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*