The exchange balance of Shiba Inu has reached $929 million within a short period, indicating a shift in market dynamics.
Growth of Shiba Inu Reserves
The exchange reserve of Shiba Inu across all platforms has surged to $929 million. This occurred in less than 24 hours on June 22-23, which can be seen as a clear movement of the coin in the market. During the same period, the value of Shiba Inu also increased by 7.66% to $0.00001112, as shown by data from CoinMarketCap.
New Bullish Trend
Fresh data from Coinglass reveals that the trading volume of SHIB decreased by 10.38% to $193.03 million, indicating a slight slowdown. However, open interest rose by 5.59% to $130.01 million. This combination of stable reserves and rising open interest signals a stronger market, consistent with the price increase observed in recent days.
Exchange Trends
Currently, Binance tops the list for SHIB inflows with $1.02 million. Bybit follows with $288.40K, while Coinbase rounds out the top three with $218.99K. Notably, OKX saw an inflow of $262.87K, which may appeal to investors looking for long-term growth.
The increase in Shiba Inu reserves and price rise amidst traders taking long positions indicates a sustained interest in this cryptocurrency, even despite some decrease in trading volume.
