Shiba Inu burns 1 billion SHIB as exchange inflows point to selling pressure

  • Shiba Inu burned 1 billion SHIB tokens over 24 hours.
  • Exchange inflows rose while the update described net flow as negative.
  • Exchange reserves approached 87.8 trillion SHIB on September 27.

Shiba Inu burned 1 billion SHIB tokens over 24 hours, but rising exchange inflows indicate that selling pressure may be increasing. A new update describes the net flow as negative while also saying more SHIB was deposited than withdrawn, creating a discrepancy in the flow convention. Existing Cryptoquant data showed exchange reserves approaching 87,793,800,000,000 SHIB on September 27, or about 14.9% of circulating supply, alongside a reported positive 24-hour netflow of more than 75 billion SHIB. SHIB fell 0.54% to close at $0.00000589, leaving its recent rally stalled.

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