On-chain data reveals a sharp increase in Shiba Inu (SHIB) tokens flooding exchanges, as 96 billion SHIB entered trading platforms in a single day. This surge, paired with 112 billion SHIB in outflows, highlights a renewed appetite for selling among holders. Despite net outflows remaining negative overall, the large inbound volume suggests that many investors are repositioning or preparing to sell.
SHIB’s price remains under heavy pressure, trading near $0.0000042, with all major moving averages—50-day, 100-day, and 200-day EMAs—far above the spot price. The daily chart shows the meme coin still trapped below these levels after an earlier rising wedge pattern broke downward, and recent bounce attempts have been swiftly absorbed by sellers. Technical indicators remain bearish, with the RSI below the neutral 50 mark and trading volumes subdued compared to earlier cycle rallies.
While some inflows may reflect legitimate portfolio adjustments rather than outright panic, the consistent weakness in chart structure and the sheer magnitude of daily exchange-bound tokens indicate that sellers are maintaining control. Without a surge in demand or a major catalyst, SHIB’s near-term outlook remains vulnerable to further declines.
