Shiba Inu’s on-chain exchange supply has climbed back to 88 trillion SHIB, reviving a closely watched threshold that historically signals mounting sell pressure. According to data from CryptoQuant, the total SHIB available across supported exchanges reached 88,076,900,000,000 SHIB as of October 3, the highest level since around June 3 and a four-month high.
The increase comes alongside a positive exchange netflow of more than 288 billion SHIB, indicating that traders are moving tokens onto exchanges at a faster pace than they are withdrawing them. This pattern is generally interpreted as bearish, as it suggests holders may be preparing to sell.
At the time of writing, Shiba Inu was trading on a downward trajectory with a decline of nearly 3% over 24 hours. Market participants have taken note of the fading demand narrative, with analysts cautioning that the rising exchange reserve could position SHIB for additional downside unless buying interest returns.
