Shiba Inu’s Price Surge Raises Concerns Over Short-Term Gains

Shiba Inu (SHIB) has experienced a notable price increase, surging by 8.71% within the past 24 hours and reaching $0.00001009. While this recent spike has attracted significant attention, on-chain data reveals a concerning lack of sustained strength. According to CryptoQuant, SHIB’s net inflow into exchanges rose to 146 billion tokens, marking a 2.2% increase. This indicates investors are transferring their assets to exchanges, which could signal a potential rise in selling pressure.