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▲ Shiba Inu (SHIB)
A strange phenomenon occurred where the price of Shiba Inu (SHIB) actually rose after a large volume of SHIB flowed into exchanges.
According to the cryptocurrency media outlet TheCryptoBasic on April 24 (local time), approximately 31.7402 billion SHIB moved to major exchanges in the last 24 hours. Cryptocurrency fund flow tracking service Whale Alert detected that this volume was deposited into Coinbase, OKX, and other exchanges.
Generally, large-scale deposits are considered a sell signal, as a flood of supply in the market increases downward price pressure. However, Shiba Inu rebounded by nearly 4% immediately after these deposits. This was a result of strong buying pressure from investors absorbing all the incoming supply.
Currently, Shiba Inu is maintaining a stable trend around the $0.000025 mark. Trading volume has also increased significantly, demonstrating high market interest. It is believed that the overall recovery in investor sentiment in the meme coin market has positively impacted price defense.
Burning activities within the ecosystem also support the price increase. According to Shibburn data, the circulating supply is steadily decreasing. This increases the asset's scarcity, laying the groundwork for long-term value appreciation. The community's cohesion is also a key factor in solidifying its market position.
Key analysts note the possibility that this movement of volume is not merely a sell-off. It is highly likely to be a strategic move to secure liquidity. Despite the large-scale release of volume, the market's confidence has been further strengthened, drawing an upward curve.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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