Shiba Inu Netflow Hits 39B as Selling Pressure Builds Up

Shiba Inu is facing renewed selling pressure amid weakening market conditions and on-chain signals turning cautious. Recent data shows increased token movement toward exchanges, raising concerns about short-term price stability. Technical indicators also suggest that resistance levels remain firm against bullish attempts. As a result, traders now assess whether the current trend could extend further downward.

Exchange Inflows Signal Rising Sell-Side Pressure

Data from CryptoQuant indicated that Shiba Inu’s exchange netflow reached 39,498,300,000 tokens over the past 24 hours. The metric tracks the difference between inflows and outflows, showing more tokens entered exchanges than left. Such a rise typically signals growing sell-side pressure in the market.

The data suggested that more holders transferred SHIB into exchange wallets, making tokens readily available for sale. While inflows do not guarantee immediate selling, they reduce the share of tokens held in private wallets. This shift increases the likelihood of sell-offs if market sentiment remains weak.

CryptoQuant also reported a slight increase in exchange reserves, reinforcing the inflow trend. Reserves climbed from 81.27 trillion on March 25 to 81.29 trillion within a day. That rising reserves often align with increased liquidity for potential selling activity.

Technical analysis added further pressure to the outlook. SHIB failed to break resistance at the apex of a descending triangle pattern. Traders observed that the rejection confirmed continued bearish control, limiting upside momentum in the short term.

Wallet Growth Signals Continued Ecosystem Expansion

Despite price weakness, the Shibarium team reported steady ecosystem growth. According to recent data, between 5,000 and 12,000 new wallets are created monthly. This consistent inflow of new users reflects ongoing retail participation in the network.

The report showed that total Shiba Inu holders have reached 1.558 million. This has led to sustained interest in the token despite declining prices. New wallet creation often signals fresh adoption, which could support long-term demand.

At the time of writing, Shiba Inu is trading at around $0.00000592, down 3.53% in the last 24 hours.