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SHIB Net flow on the SHIB Inu exchange plunged 97%, triggering selling pressure due to the return of 226 billion coins.
This week, the price of Shiba Inu, a cryptocurrency based on popular memes, returned to a positive trend. However, new selling pressure appears to be affecting exchange activity, stoking concerns that short traders could regain dominance.
A large number of SHIB tokens returned to the exchange
The latest data from blockchain analysis firm CryptoQuant shows that the net exchange traffic of Shiba Inu coins dropped by more than 97% within 24 hours. As of August 1, this figure shows that more than 226 billion SHIB tokens have been transferred back to exchanges. This massive move suggests that the number of SHIB tokens deposited on the exchange exceeds the amount withdrawn, which is usually a signal that traders are ready to sell rather than hold. Recent online data shows that after net traffic plummeted more than 97%, 226 billion SHIBs were net returned to the exchange in a single day. This trend suggests that traders are increasingly moving tokens to platforms where sales can be executed quickly.
Typically, when net traffic surges and a large number of tokens return to the exchange, it reflects that holders may be preparing for a large sell-off. Although prices are in an upward environment, the positive net flow of tens of billions of SHIB highlights a pattern of increasing selling activity.
Date| SHIB Exchange Net Flow| Trends
July 31| More than 226 billion SHIB| Decline
August 1| 226 billion SHIB| Sharp drop (more than 97%)
Price performance bucked the trend
Despite bearish signs in exchange activity, Shiba Inu is experiencing a significant price rebound. The cryptocurrency has gained more than 7% in the past 24 hours, continuing last week's gains, when SHIB surged more than 30% in one-day trading. This divergence between exchange net flow and price has attracted the attention of market analysts as the asset has shown resilience against a backdrop of increased selling pressure. Holders became optimistic that Shiba Inu could repeat the parabolic price trend seen during previous sharp gains. Despite recent trends pointing to intensified exchange selling, Shiba Inu prices have continued to rise, prompting holders to again expect a significant new rebound.
Analysts focus on divergences and observe next steps
The current price trend of Shiba Inu coins highlights a unique scenario: even if market data sends warning signals, positive momentum continues. Analysts pointed out that if selling pressure intensifies further or buyer demand weakens in subsequent trading hours, this model could be just a flash in the pan. The contrast between the massive return of SHIB to the exchange and the continued rise in prices highlights the importance of monitoring chain indicators and market indicators to judge future trends of assets.
