Benzinga - Self-proclaimed ‘Dogecoin (CRYPTO: DOGE) killer' Shiba Inu (CRYPTO: SHIB) has registered a decrease of 0.51% in its supply on exchanges over the past month.
What Happened: This trend was identified by cryptocurrency analytics firm Santiment and highlighted by a crypto trader known as @trader_kamikaze on X.
According to Santiment’s data, the supply of Shiba Inu on exchanges fell to 7.85% from its position since November 12, hinting at a decreased willingness among holders to sell their SHIB tokens on exchanges. "SHIB supply on exchanges has fallen by 0.51% since November 12, now at 7.85%! Less SHIB on exchanges generally means reduced selling pressure – setting the stage for potential gains."
#Crypto intelligence tracker @santimentfeed reveals a fascinating trend: $SHIB supply on exchanges has fallen by 0.51% since November 12, now at 7.85%! Less SHIB on exchanges generally means reduced selling pressure – setting the stage for potential gains.#Shibarium #ShibaArmy pic.twitter.com/zycIUOg8sV— 山丨ㄥㄥ Trader_Kamikaze