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A significant spike was observed in Shiba Inu's exchange flow over the past 24 hours. According to CryptoQuant data, 182 billion SHIB tokens entered exchanges, indicating a sharp increase of 113%. What does this mean? It suggests that owners are ready to sell their Shiba Inu holdings.
Exchange reserve data confirms this. The amount, which was 81 trillion in mid-February, has now risen to 8 trillion, showing increased selling pressure. The price has already declined by 22% over the past 30 days along with a broad market downturn. Such flows mean that every rally is immediately met with a wave of selling.
The interesting part is that the number of active wallets and trading volume remain stable. This indicates that users continue to stay active on the network, but if selling pressure persists, Shiba Inu could see further declines. As long as demand remains weak, this increase in supply will continue to put pressure on the market.