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SHIB Shiba Inu is under pressure: A large number of tokens are pouring into exchanges
As a well-known meme token in the Ethereum ecosystem, Shiba Inu has seen a significant trend of nearly 100 billion tokens being transferred to multiple centralized exchanges in just 24 hours. During this period, approximately 96 billion SHIBs flowed into the exchange, while the outflow was slightly higher than the inflow, reaching 112 billion. The flow came at a fragile moment when the asset's price was barely holding near $0.000042, near multi-month lows, further highlighting its continued pressure in the market.
Signals revealed by technical indicators
Shiba Inu's price movement remains below multiple key resistance levels, causing concerns among traders. The latest data shows that the 50th, 100th and 200th index moving averages are all above their current trading prices. This alignment confirms a continued bearish trend, which was further exacerbated by the token's failure to break through the downward channel formed earlier this year.
Is rising exchange activity a cause for concern?
Indeed, the influx of large numbers of SHIB tokens into exchanges often signals an upcoming sell-off or a strategic adjustment by holders. This trend has increased the amount of tradable supply in exchange wallets and could further depress prices if buying demand cannot be matched. Despite strong inflows on exchanges, slightly higher outflows still put net flows negative, suggesting that holders may be planning future selling plans.
Market indicators also support this bearish sentiment. Trading volume has fallen from its highs in the previous cycle, and the relative strength index has continued to fall below the neutral benchmark, indicating weak buying momentum among long investors.
Key Data List
Exchange inflow in 24 hours: 96 billion SHIBs
Exchange outflow in the same period: 112 billion SHIBs
Current trading price: US$0.000042
The market is still below the 50-day EMA
The RSI is neutral at below 50
Currently, Shiba Inu lacks clear signs of increased investor confidence or continued accumulation of funds. Unlike previous cycles where price rebounds were accompanied by strong buying interest, current enthusiasm at both retail and institutional levels is sluggish. However, it should be noted that inflows into exchanges do not necessarily mean that a large-scale sell-off is imminent, and some traders may be adjusting their positions for a variety of strategic reasons.
Under the combined effect of continued selling pressure and significant token inflows, market optimism continued to fade. As Shiba Inu hovers near its lows in recent months, short power still dominates.
