Shiba Inu
Why Shiba Inu is up 1.2% in the last hour
Analysis
SHIB rose about 1.2% over the past hour as traders reacted to signs of tightening exchange-side supply, with U.Today reporting a continued squeeze in SHIB held on exchanges (including a 228B SHIB reduction), which can support near-term price strength. Sentiment also got a boost from U.Today’s report that Rakuten added SHIB support to its mobile wallet, improving accessibility and potential demand channels.
Contributing Factors (2)
-228 Billion SHIB: Shiba Inu Coin Supply on Exchange Continues to Squeeze
Shiba Inu coin sees 228 billion SHIB exit top crypto exchanges as sell-side liquidity thins out.
E-commerce Giant Rakuten Adds Shiba Inu to Mobile Wallet
Shiba Inu will be integrated into Rakuten Wallet alongside other top digital currencies.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.