Shiba

Shift

Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-shift-shiba-inu-to-exchanges" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Shift Shiba Inu to Exchanges</a><br></p>
<p style="text-align: justify">Significant movements in the Shiba Inu (SHIB) market were observed last week, as over 4 trillion SHIB tokens, valued at approximately $103 million, were transferred to various cryptocurrency exchanges. This mass transfer has raised concerns among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>, indicating a potential sell-off after a recent price surge. Ali Martinez highlighted on social media platform X that these tokens were moved to exchanges over the past two weeks, hinting at possible selling actions <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>.</p>
<h2 id="what-does-the-data-show">What Does the Data Show?</h2>
<p style="text-align: justify">Using data from Santiment, it was confirmed that there was an increase in the movement of SHIB towards exchanges last week. This was accompanied by a decrease in SHIB supply on exchanges, indicating active selling by investors, including large holders or “whales”. The downward trend in the supply held by major addresses over the past seven days further reflects this selling pressure.</p>
<p style="text-align: justify">A graph from Santiment displaying the Network Value to Transactions (NVT) ratio for SHIB indicated a rising pattern, which could suggest an overvaluation and potential price drop for the cryptocurrency.</p>
<h2 id="why-did-shib-s-rsi-change">Why Did SHIB’s RSI Change?</h2>
<p style="text-align: justify">Following a recent price increase, SHIB’s Relative Strength Index (RSI) climbed to 71 but subsequently fell to just above 40. Currently, SHIB’s price stands at $0.00002518, reflecting a 0.39% decline in the last 24 hours. Data from Coinglass also showed a significant rise in SHIB’s open interest in futures trading, pointing to increased investor engagement with the asset.</p>
<p style="text-align: justify">The market faced substantial questions when the transfer of 4 trillion SHIB tokens to exchanges took place. This event, coupled with a 144% increase in SHIB’s value since the year’s start, suggests a possible decline as investors seek to capitalize on their gains.</p>
<h2 id="investor-insights">Investor Insights</h2>
<ul>
 <li>Monitoring SHIB’s movement to exchanges can provide early signals of potential sell-offs.</li>
 <li>Analyzing SHIB’s NVT ratio can offer insights into its valuation status.</li>
 <li>Tracking RSI values can help predict short-term price movements.</li>
 <li>Observing futures trading data can reveal changes in investor interest and sentiment.</li>
</ul>
<p style="text-align: justify">At the year’s start, SHIB traded at $0.000009 before peaking at $0.000035 and then declining again. This highlights the volatile nature of the cryptocurrency and the need for strategic decision-making by investors.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-shift-shiba-inu-to-exchanges" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Shift Shiba Inu to Exchanges</a></h5>

Investors Shift Shiba Inu to Exchanges

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