Shiba Inu
Why Shiba Inu is up 4.5% today
Analysis
Shiba Inu (SHIB) rose about 4.5% over the past 24 hours as reports pointed to reduced exchange-side selling pressure and a tightening available supply. U.Today noted that roughly 111.67 billion SHIB moved off exchanges in a day, providing “unexpected support” and helping push SHIB back into a more bullish zone as selling pressure faded.
Contributing Factors (3)
Shiba Inu Back to Bullish Zone as 111 Billion SHIB Make Selling Pressure Fade
Shiba Inu sees investors' demand resurface after prolonged volatility seen in the previous week as exchange netflow declines by over 111 billion SHIB.
-111.67 Billion Shiba Inu in 24 Hours: Price Receives Unexpected Support
Shiba Inu is somewhat alive again: SHIB on exchanges is moving away again.
-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.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.