10,423,720,000,000 Shiba Inu Stun World's Largest Crypto Exchange

Shiba Inu (SHIB), the dog-themed meme coin, has significantly developed on the broader cryptocurrency market. There has been an upsurge in trading volume

Over 10 trillion SHIB tokens hit Binance in 24 hours

What does this mean for the meme coin and its price?

Shiba Inu (SHIB), the dog-themed meme coin, has seen significant development in the broader cryptocurrency market.

There has been an upsurge in trading volume as over 10 trillion SHIB tokens have hit Binance, the largest crypto exchange, in the last 24 hours.

According to CoinMarketCap data, 10,423,720,000,000 SHIB hit the exchange as market participants positioned themselves for likely profit-taking activities beyond regular trading.

The sheer volume traded on Binance suggests that Shiba Inu traders might be preferring the liquidity on the platform for likely sell-offs as such a large volume signals a fright-or-flight response by SHIB holders.

However, it could also mean that the traders want to stake a part of their SHIB tokens.

Beyond these, Shiba Inu traders may just be shuffling assets.

As of this writing, the SHIB price was trading up by 6.83% at $0.00001571 in the last 24 hours.

This signals a rebound as the meme coin attempts to climb back to the $0.000018 level.

Analysts maintain that if supported by bullish sentiment on the market, SHIB could achieve its rebound journey to higher levels.

In the past 24 hours, SHIB has fluctuated between a low of $0.00001408 and a high of $0.00001691 as it struggles to gain more ground.