Shiba Inu (SHIB) has seen significant token withdrawals from exchanges, with 84.014 billion tokens leaving trading platforms in the past 24 hours, according to CryptoQuant data. This negative netflow suggests that holders are accumulating the meme coin, moving it to self-custody wallets or third-party systems, which reduces selling pressure.
Despite recent price volatility, Shiba Inu's price has rebounded by 5% after a three-day decline. The token's price fluctuations have led to $186,080 in liquidations, predominantly affecting long positions. Currently, SHIB is trading near the $0.000060 resistance level, with potential for further gains if it breaks above this threshold.
84 Billion Shiba Inu Tokens Withdrawn from Exchanges Amid Price Swings
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