I noticed something interesting while looking at Shiba Inu's on-chain data these past few days. Despite a challenging period for the token, new addresses continue to be created regularly within the ecosystem—between 5,000 and 12,000 per month according to the latest info. The number of holders has surpassed 1.5 million, showing that there is still interest.

But here’s the thing that worries me: about 40 billion SHIB have flowed into exchanges recently, and withdrawals haven't kept up the same pace. This is called a positive net flow, and it generally signals potential selling pressure. Exchange reserves have increased to 81.29 billion tokens.

On the technical side, the Shiba Inu token attempted to break through the resistance of a descending triangle but was pushed back. The token declined by about 2% within 24 hours. It’s the combination of these two factors—the technical pressure and the increase in tokens accessible on exchanges—that creates short-term tension.

What’s curious about this Shiba Inu token news is that the fundamentals of the ecosystem remain solid. Wallet growth continues, but the short-term market seems concerned about something else. We’ll see how it plays out.