Shiba Inu: 65 billion tokens to exchanges are $349,700: What to watch now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.CryptoQuant reports a net inflow of 65 billion tokens to exchanges for Shiba Inu. At the price on October 11 that is $349,700, and 0.75 percent of daily turnover.The analytics firm CryptoQuant reports a positive net flow of roughly 65 billion SHIB for Shiba Inu. Positive, in this calculation, means that more tokens moved onto trading venues than were withdrawn from them. The figure sounds enormous. At Sunday midday's price of $0.00000538 it comes to $349,700, which is 0.75 percent of what SHIB turns over in a day. The finding behind the headline is therefore not that a wave of selling is building. It is that token counts at Shiba Inu are distorted by a circulating supply of 589 trillion units. Hearing billions in this coin means converting before trading. This article does the arithmetic, sets it against the price picture and shows what moving tokens into self-custody means for tax purposes in Germany. Shiba Inu: a net 65 billion tokens to exchanges, $349,700 in money terms Cryp...