Shiba Inu (SHIB) is confronting a severe selling crisis as data from CryptoQuant indicates massive inflows into centralized exchanges, with over 60 billion SHIB transferred in the last 24 hours and approximately 120 billion SHIB moved onto platforms recently, foreshadowing aggressive sell-offs. This surge in exchange deposits typically signals holder intentions to liquidate, exacerbating the downward trend where SHIB trades around $0.0000087, well below key moving averages.
Simultaneously, the SHIB burn rate exploded by 1,090% in the past day, with 17,290,166 tokens destroyed, as tracked by Shibburn. However, the weekly burn rate fell by 64.48%, with 227,892,499 SHIB burned over seven days. Technical indicators show no relief, with the RSI stuck in the 37-41 range, suggesting the market is not oversold, and declining volume hints at insufficient buying interest to counter sell pressure.
If even a fraction of the 120 billion SHIB supply is market-sold, prices could plunge to the $0.0000075-$0.0000078 zone, with potential for deeper lows if panic spreads. This SHIB-specific turmoil unfolds against a broader crypto market crash, where Bitcoin dropped below $90,000 for the first time since April, wiping out 2025 gains and triggering over $1.03 billion in liquidations—$726.52 million from long positions—amid economic headwinds and fading Fed rate cut expectations.
