Foreign media reports that SHIB has recently faced new selling pressure. The article mentions that approximately 145.9 billion tokens were transferred to exchanges on August 29th, leading the market to worry about an increase in subsequent sales.

Increased inflows into exchanges

The article states that the transfer of these tokens to an exchange does not necessarily mean they will be sold immediately, but it usually indicates that holders are one step closer to exiting their holdings. SHIB At that time, the trading price was around 0.0000055 US dollars, so the short-term support level received attention as a result.

Weak attention to funds

It is also mentioned in the text that SHIB has not seen any new capital inflows recently, and retail buying interest has also significantly cooled down. The author believes that traders are shifting their attention to other assets, as SHIB has been performing weakly for several consecutive years.

Shibarium Limited burning capacity

The article also mentions that since Shibarium was launched in August 2023, more than 1 billion SHIB tokens have been destroyed in total, but this figure is far lower than what the market expected beforehand. Based on this, the author believes that the project team's earlier projections regarding the token destruction rate did not come to fruition.