Shiba Inu Faces Increased Selling Pressure as 157 Billion Tokens Move to Exchanges

Shiba Inu (SHIB) is currently under significant bearish pressure, with on-chain data revealing a massive influx of tokens to cryptocurrency exchanges. Over a three-day period, a staggering 157 billion SHIB tokens were deposited onto exchanges, a movement that typically precedes a period of increased selling activity. This sharp increase in exchange inflows suggests that a large number of holders are looking to offload their assets, creating an imbalance between buy and sell-side pressure.

Bearish Signals and Price Action

The continuous flow of tokens onto exchanges has led to a notable rise in SHIB’s total exchange reserve, which now sits at 86.08 trillion tokens. This growing supply on exchanges indicates a greater potential for immediate liquidation and downward price movement. The article notes that the price has already returned to the crucial $0.000013 level, with the coin trading within a symmetrical triangle pattern on the daily chart. Strong resistance at $0.000014 and support at $0.0000124 define the current trading range.

What’s Next for the SHIB Rally?

The on-chain data is “flashing red” for Shiba Inu, with a clear increase in active sending addresses. This indicates a trend of distribution rather than accumulation among holders. For a full-blown rally to occur, the token would need to see a reversal in these exchange flow metrics, with more tokens being withdrawn than deposited. Until then, the bearish forces are expected to outweigh any bullish momentum, keeping the price subdued and a major rally unlikely in the near term.