Nearly 100 billion Shiba Inu (SHIB) tokens were moved to cryptocurrency exchanges over the past 24 hours, signaling renewed selling pressure as the meme coin struggles near $0.0000042. On-chain data shows exchange inflows of roughly 96 billion SHIB against outflows of about 112 billion SHIB, keeping net flows negative but failing to reassure investors.
Exchange inflows spike despite weak chart
The surge in tokens heading to trading platforms suggests many holders are preparing to sell or rebalance their positions. SHIB remains below all major moving averages on the daily chart—the 50-day, 100-day, and 200-day EMAs are all above current price action. The asset broke down from a rising wedge pattern earlier this year and has since printed lower highs, with sellers absorbing bounce attempts in June and July.
Available supply weighs on price
Large exchange inflows increase the supply available for trading, which tends to pressure prices when demand is low. While not all transfers indicate immediate selling—some may be for arbitrage or liquidity—the lack of strong accumulation signals elsewhere is troubling for bulls. Trading volume remains subdued, the Relative Strength Index (RSI) is below the neutral 50 level, and momentum indicators stay bearish.
Sellers remain in control
Total exchange reserves have not spiked dramatically, suggesting no panic-driven sell-off yet. However, the combination of a persistently weak chart and daily inflows of almost 100 billion SHIB points to continued seller dominance. Until buying conviction returns, the token is likely to face further headwinds.