Shiba Inu: Trading volume increases by 115% – Bull Run or sell-off signal?

Shiba Inu (SHIB) unexpectedly witnessed a 115% increase in trading volume before quickly cooling down. Despite the trading activity surge, the price of SHIB still dropped by 8.4% in the past 30 days, indicating that this is more likely a sell-off rather than a signal for the start of a bull run.

The main driving force behind this volatility comes from the conversion of Leash (LEASH) tokens to LEASH v2 in the Shiba Inu ecosystem, increasing short-term trading pressure rather than driving long-term price trends.