Shiba Inu Price Faces Pressure as Exchange Deposits Surge 208% in 24 Hours

Shiba Inu's price is under pressure due to a 208% surge in exchange deposits over 24 hours, indicating a potential wave of sell-offs. This bearish signal suggests traders are moving tokens onto platforms to sell, undermining the meme coin's recent price recovery. Shiba Inu has lost over 53% of its value year-to-date and faces a test of its weekly momentum.