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▲ Shiba Inu (SHIB)
An unusual phenomenon occurred where the price of Shiba Inu (SHIB) actually rose after a large volume of SHIB flowed into exchanges.
According to the cryptocurrency media outlet The Crypto Basic on April 24 (local time), approximately 31.7402 billion SHIB moved to major exchanges in the last 24 hours. The cryptocurrency fund flow tracking service Whale Alert detected this volume being deposited into Coinbase and OKX, among others.
Typically, large-scale deposits are considered a sell signal because when a large volume of assets is released into the market, downward price pressure increases. However, Shiba Inu rebounded by nearly 4% immediately after these deposits. This is a result of strong buying pressure from investors absorbing all the incoming volume.
Currently, Shiba Inu is maintaining a stable trend around the $0.000025 mark. Trading volume has also increased significantly, demonstrating high market interest. The recovery of investor sentiment across the meme coin market is believed to have positively impacted price defense.
Burning activities within the ecosystem also support the price increase. According to Shibburn data, the circulating supply is steadily decreasing. This increases the asset's scarcity, laying the groundwork for long-term value appreciation. The community's strong cohesion is also a key factor in solidifying its market position.
Leading analysts are focusing on the possibility that this volume movement is not merely a sell-off. They analyze that it is likely a strategic move to secure liquidity. Despite the large volume influx, the market's confidence has been further strengthened as it continued to show an upward trend.
*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.*
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