Shiba Inu Sees Significant Liquidity Boost on Coinbase

The Shiba Inu cryptocurrency has been experiencing fluctuations in exchange netflows over the past few days. However, a notable development is the significant increase in liquidity on the Coinbase exchange. According to data from CoinGlass, Coinbase showed a positive netflow of 26 billion SHIB in the past 24 hours.

This positive netflow indicates that more SHIB tokens are being deposited onto the platform than withdrawn, which can reflect accumulation and increased demand. As the leading exchange in the U.S., the positive SHIB netflow on Coinbase suggests that U.S.-based users are driving this trend. The actions of these users have created a localized liquidity enhancement on the platform, increasing spot trading potential for SHIB.

However, not all exchanges are showing positive netflows for SHIB. Upbit and OKX have reported large negative net inflows, indicating that SHIB tokens are being sold off from these platforms. This contrast highlights the localized nature of the liquidity enhancement on Coinbase.