Shiba Inu Soars 4% as 300 Billion Tokens Exit Exchanges – What’s Next?

Shiba Inu (SHIB) has taken the market by surprise, experiencing a 4% surge as it pushes past the $0.0000123 level. This unexpected rally comes after a dramatic outflow of 300 billion SHIB tokens from centralized exchanges over the past 48 hours, according to on-chain data. The large outflow of SHIB tokens from exchanges is often seen as a bullish signal. With fewer tokens available on exchanges, the potential for selling pressure decreases, indicating that holders may be moving their assets to cold storage or decentralized finance (DeFi) platforms.