Update
Shiba Inu Spot Flows Skyrocket 215% in 8 Hours
Shiba Inu (SHIB) spot flows increased by over 200% in the past hour, reaching approximately $35,000 in net inflow. Despite the large percentage change, the actual volume is relatively small, with spot volume over 24 hours being just $6.37 million and futures volume $21.99 million. The article highlights that traders are more active in derivatives than in spot trading, with open interest at $52.56 million and 24-hour liquidations at $92,820. The price of SHIB is near $0.00000499, down 1.4% on the day and 8% over the week. The RSI is near 37, indicating weak momentum but not an oversold market. The article suggests that the spot flow spike is a small signal and not a reason to buy, as real demand would show up as steady net inflows and rising spot volume.