Shiba Inu risks losing $0.000005 as exchange selling pressure mounts

  • Shiba Inu exchange activity turned bearish as traders began moving more tokens onto exchanges.
  • 145,906,600,000 SHIB was the reported exchange netflow on Saturday, August 29.
  • Shiba Inu has recorded daily declines of about 3% in recent days.

Shiba Inu is at risk of falling below the major $0.000005 level as demand slows and exchange activity points to rising selling pressure. Crypto analytics platform CryptoQuant reported that Shiba Inu's exchange netflow had turned bearish, reaching about 145,906,600,000 SHIB on Saturday, August 29. That means more tokens were moved onto exchanges than withdrawn by more than 145 billion SHIB, a pattern commonly associated with potential selling. The data suggests traders may be reducing holdings or hedging against losses after a recent price breakout helped them recover. Shiba Inu has also posted daily declines of about 3% in recent days, increasing the risk of a retest below $0.000005 and adding to speculation about a bearish month ahead.

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