On-chain monitoring by Arkham Intelligence recorded significant Shiba Inu movements ($SHIB) Tokens on centralized exchanges. According to “On-chain Transaction Flow”, net inflows in the past 24 hours were: $SHIBamounting to approximately 474.494 billion tokens, equivalent to almost $3 million at current prices.
Revolut’s land is 1.171 trillion $SHIB From Coinbase
The main proportion of inflows came from Revolut, which allows users to trade cryptocurrencies, including Shiba Inu, among other financial services. More than 1,171 billion yen inflow here $SHIB The equivalent of $6.94 million was recorded.
Additionally, South Korean exchange Bithumb and the world’s largest cryptocurrency exchange Binance also contributed, with each showing an average inflow of about $1.5 million.
Meanwhile, the outflow was mainly caused by withdrawals from Coinbase Prime storage. Notably, the amount of withdrawals was almost the same as the amount of inflows to Revolut, at just $1 billion. $SHIB difference. Additionally, Bitstamp was also one of the platforms where Shiba Inu tokens were withdrawn.
The price at the time the anomaly is detected is $SHIB is $0.00000605, showing a daily increase of 5%.
What $494 billion in exchange flows mean $SHIBApril performance of
Inflow of nearly 5 trillion yen $SHIB This date coincided with the start of April, which is historically considered to be moderately positive for memecoins. According to CryptoRank, the average monthly return is 3.83%, but the median is still -2.4%.
The most successful April was recorded in 2021. $SHIB Tokens increased by 69.4%, but from 2022 to 2024, tokens decreased by 22% and 26.9%, respectively.
Thus, the Shiba Inu market is currently facing a collision of two factors: an abnormal increase in foreign exchange supply of $494 billion. $SHIB And historically early April seasonality is good. Further price action will depend on whether this quantity is sold to the order book or used by market makers and exchanges to provide liquidity.
