324,000,000,000 Shiba Inu (SHIB) in 24 Hours: They Are Selling Even More

• Shiba Inu not passive
• Rising exchange flows and increased activity

As on-chain data reveals a sharp rise in tokens moving onto exchanges, Shiba Inu is once again under increasing downside pressure. Concerns that sellers are taking over the short-term market structure have been strengthened by the deposit of about 324 billion SHIB in the last 24 hours.

Shiba Inu not passive

Although there have been brief attempts at a price recovery, the underlying token flow indicates that distribution is still the dominant behavior. Exchange reserves and net inflows provide the clearest indication. More SHIB is moving from private wallets to trading platforms, where assets are usually ready for sale rather than long-term storage, according to rising exchange reserves. The most recent spike in this trend, which has been steadily increasing, shows that selling pressure is not abating.

SHIB/USDT Chart by TradingView

This view is further supported by the exchange netflow turning positive, which indicates that inflows are exceeding withdrawals. Although there has been a slight increase in the number of transactions and active addresses, this growth does not always indicate bullish engagement.

Rising exchange flows and increased activity

In the current environment, a spike in exchange flows typically indicate repositioning and risk reduction rather than accumulation. It seems that traders are taking advantage of short-term price strength to close positions rather than open new ones.

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Technically speaking, the price action of SHIB is consistent with the on-chain data. The asset recently made an effort to recover important moving averages, but it was unable to stay above them for very long. Strong supply has responded to every upward push, swiftly halting momentum. This behavior implies that buyers lack the conviction necessary to accept incoming sell orders and that overhead resistance is still strong.

The speed at which tokens move, known as velocity, has continued to be high. Growing adoption may occasionally be accompanied by rising velocity, but it may also indicate more speculative activity. Higher velocity in conjunction with exchange inflows, in SHIB’s case, suggests quick turnover rather than sustained holding. Investors should exercise caution given the current setup.

The market is still susceptible to more declines as long as exchange inflows keep increasing. A noticeable slowdown in deposits and a change toward steady outflows would be necessary for any significant recovery, indicating that holders are prepared to remove SHIB from exchanges and lower the risk of an immediate sale.

Source: https://u.today/324000000000-shiba-inu-shib-in-24-hours-they-are-selling-even-more