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SHIB Shiba Inu Exchange's net inflow dropped to 65 billion pieces, easing selling pressure
Core points:
- Shiba Inu (SHIB)'s net exchange inflow fell to approximately 65 billion SHIB, reflecting easing selling pressure following a decline in the broader cryptocurrency market.
- CryptoQuant data showed that despite the sharp decline in inflows, deposits on exchanges were still higher than withdrawals, indicating that selling activity still exists.
- As exchange inflows moderate and SHIB prices return to positive territory, traders are closely monitoring potential changes in overall market sentiment.
Exchange net inflows fall, selling activity slows down
Shiba Inu (SHIB)'s exchange net inflows have dropped to approximately 65 billion tokens, marking a decrease in selling activity on major cryptocurrency exchanges. According to CryptoQuant, the decline came after a large inflow of funds into exchanges during the turmoil in the broader cryptocurrency market, when the market was facing huge selling pressure.
Data on October 10 showed that despite a sharp decline from previous levels, SHIB's net exchange inflows remained positive. This development suggests a decrease in the number of tokens entering exchanges, marking a change in trading activity following the recent market sell-off. At the same time, Shiba Inu prices have rebounded into positive territory, reflecting improved market performance as exchange inflows have declined.
CryptoQuant data shows that Shiba Inu's net exchange inflows have dropped from hundreds of billions of tokens to approximately 65 billion SHIBs. Compared with high levels recorded during the market downturn, the decrease suggests a significant slowdown in exchange deposits.
Exchange net traffic measures the difference between cryptocurrency deposits entering a trading platform and withdrawals leaving the platform over a specific period of time. A positive reading indicates that deposits exceed withdrawals, while a negative reading indicates that more coins are leaving the exchange.
In Shiba Inu's case, a positive balance of 65 billion SHIBs means that exchange inflows are still higher than withdrawals. So despite a significant decline in net exchange deposits, these data suggest potential selling pressure remains.
Previous increases in exchange activity coincided with widespread cryptocurrency market losses and increased volatility of major digital assets. During this period, as market conditions deteriorated and selling activity intensified, traders shifted a large number of SHIB positions to exchanges.
It is worth noting that the latest decrease represents a measurable slowdown in the pace of exchange deposits, rather than a confirmation that selling activity has ended.
SHIB prices return to positive range as exchange inflows decrease
As net exchange inflows decline, Shiba Inu also recorded positive price movements after the broader cryptocurrency market fell. This recovery and the decline in exchange deposits occurred simultaneously, although available data do not establish a direct link between the two events.
In addition, the remaining positive net flow suggests that despite improved market performance for SHIB, exchange deposits still exceed withdrawals. Market participants are closely watching whether net inflows to exchanges turn negative, which would indicate withdrawals exceed deposits.
This development will form further changes in exchange activity with positive readings recorded during the sell-off. Currently, CryptoQuant's data shows a decrease in net inflows to exchanges, while Shiba Inu's price movements reflect improving short-term market conditions.
