Based on CoinPaper, Shiba Inu (SHIB) holders have withdrawn over 50 billion tokens from centralized exchanges in a short period, indicating a shift in token distribution and reducing the available supply for trading. The outflow suggests accumulation or long-term storage rather than immediate selling, as fewer tokens are now positioned for quick sales. Technical indicators show a compressed market phase with reduced volatility and flattened downtrends, suggesting potential for a directional move after a period of consolidation.
Over 50 Billion SHIB Tokens Withdrawn from Exchanges, Signaling Shift in Holder Behavior
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Summary
Over 50 billion SHIB tokens have been withdrawn from exchanges, with value investing in crypto possibly influencing the move. The outflow points to accumulation or long-term storage, reducing tokens available for trading. TA for crypto shows a compressed market phase with flattened downtrends. Reduced volatility suggests a potential breakout after consolidation.
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