The Shiba Inu (SHIB) market is currently experiencing a period of consolidation, as recent data reveals stable exchange reserves despite minor fluctuations in inflows. According to the official information, this trend suggests that investors are not aggressively pulling their assets from exchanges for long-term holding.
Current SHIB Token Holdings on Exchanges
As of now, approximately 82 trillion SHIB tokens are held on exchanges, with a recent decrease of 606 million SHIB in inflows being relatively insignificant. This stability in exchange reserves indicates that market participants are maintaining their positions rather than opting for withdrawals.
On-chain Analytics and Market Activity
On-chain analytics further support this observation, showing consistent transaction volumes without any notable uptick in speculative trading. This lack of heightened activity suggests that the market is in a consolidation phase, following a prolonged downtrend. Investors appear to be adopting a wait-and-see approach.
Recently, the Shiba Inu (SHIB) community faced a significant decline in the token's burn rate, raising concerns about its deflationary model. For more details, see the full article here.
