Leading trading platforms Coinbase, Binance, Robinhood, Cumberland and Wintermute received over 6.84 trillion Shiba Inu tokens as the cryptocurrency’s price continues to consolidate around $0.00003.
Shiba Inu is one of the most actively traded cryptocurrencies and has surpassed other major altcoins in volume during periods of peak market activity. However, even in periods where Shiba Inu’s price remains relatively flat, the cryptocurrency maintains a decent trading volume, with millions of dollars flowing across different exchanges.
According to on-chain data from Arkham, three leading trading venues for Shiba Inu, namely, Coinbase, Binance, Robinhood, Cumberland and Wintermute received a total inflow of 6.84 trillion tokens in the past 24 hours alone. The amount received, which totaled $227 million at current prices, suggests active investor interest in Shiba Inu.
Shiba Inu Inflows to Exchanges
Additionally, while the price of Shiba Inu has traded in a consolidation range, the asset recorded a trading volume of $1.9 billion in the past 24 hours. Shiba Inu’s trading volume is notably more than $600 million higher than Cardano’s reported trading volume, even though the latter is ranked higher than SHIB in the list of cryptocurrencies by market capitalization.
Shiba Inu Continues to Grab Attention in America
The latest data on massive Shiba Inu inflow to exchanges such as Coinbase and Robinhood provides further evidence of the cryptocurrency’s popularity within the community, including in the United States.
A recent survey of American-based investors found that a majority have allocated more to Shiba Inu than to Solana (SOL) and Cardano (ADA). In fact, Shiba Inu only trails Bitcoin, Ethereum, Dogecoin, and Binance coin (BNB) on the list of most invested cryptocurrencies by the surveyed audience.
Meanwhile, the recent surge in the price of Shiba Inu’s price could potentially attract more investors to the token as the crypto bull market continues. The cryptocurrency has gained 250% in the past month, with analysts predicting a rally to its previous all-time high of $0.00008845 in the coming months.
