Shiba Inu Token Sees Record-Breaking Exchange Flow in 24 Hours

The Shiba Inu (SHIB) token has seen a substantial increase in exchange flow over the past 24 hours, with on-chain monitoring by Arkham Intelligence recording a net inflow of approximately 474.494 billion tokens.

This influx was primarily driven by Revolut, which allows its users to trade cryptocurrencies, including SHIB. The platform recorded an inflow of over 1.171 trillion SHIB, equivalent to $6.94 million at current prices.

Other contributing exchanges include Bithumb and Binance, each showing average inflows of around $1.5 million.

Outflows were mainly attributed to withdrawals from Coinbase Prime custody, with the amount withdrawn being nearly identical to the inflow on Revolut.

The price of SHIB at the time of detection stood at $0.00000605, exhibiting a daily increase of 5%.