Shiba Inu exchange inflows signal selling pressure as price nears $0.000005

  • Shiba Inu exchange outflows fell 42% while inflows remained higher than outflows.
  • CryptoQuant recorded a 264.24 billion SHIB net inflow over 24 hours.
  • SHIB traded at $0.000005279, down 2.85% and nearing $0.000005 support.

Shiba Inu is facing potential selling pressure as more tokens move onto exchanges while withdrawals slow, and the price retreats toward the major $0.000005 support level. Exchange outflows have declined 42%, indicating fewer SHIB tokens are being withdrawn from trading platforms, even as inflows remain higher than outflows. CryptoQuant recorded a 264.24 billion SHIB net inflow over 24 hours, with 599.18 billion tokens entering exchanges versus 334.94 billion leaving, while a separate report cited a 145,906,600,000 SHIB netflow on August 29. Exchange reserves rose 0.3% to 87.12 trillion SHIB, valued at $461.73 million at press time. SHIB traded at $0.000005279, down 2.85% over 24 hours after briefly exceeding $0.0000061 over the weekend. The token remained up 1.24% for the week and 13.89% for the month but was down 57.96% over the year. Higher inflows alongside reduced outflows may indicate that traders are reducing holdings or hedging against losses as demand weakens, although they do not establish that selling will occur.

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