145 Billion SHIB Positioned for Sale as Shiba Inu Exchange Netflow Turns Bearish
Key Takeaways
- •Shiba Inu's exchange netflow reached approximately 145.9 billion SHIB as of August 29, indicating tokens moved onto exchanges exceed those withdrawn.
- •Traders are selling SHIB to hedge against potential losses after recovering from a recent price breakout.
- •The token has declined roughly 3% daily in recent sessions, risking a fall below the $0.000005 support level.
- •September has historically been a weak month for bitcoin and altcoins, prompting some traders to reduce exposure.
- •Continued exchange inflows would reinforce the selling-pressure reading, while a shift toward withdrawals would signal renewed accumulation.
145 Billion SHIB Positioned for Sale as Shiba Inu Exchange Netflow Turns Bearish
Shiba Inu (SHIB) may be at risk of losing the key $0.000005 price level, as demand appears to have slowed while exchange activity suggests mounting selling pressure.
According to recent data from crypto analytics platform CryptoQuant, Shiba Inu exchange activity is no longer flashing a bullish signal: the token's exchange netflow has flipped to the other side of the market.
Exchange netflow measures the difference between tokens deposited to and withdrawn from exchanges. Positive netflows typically indicate coins are being moved onto platforms, often in preparation for sale, while negative netflows are generally read as accumulation or self-custody behavior. It is one of the most widely watched on-chain indicators for meme coins like Shiba Inu, whose price moves are often driven more by retail trader sentiment than by fundamental development activity.
Shiba Inu Traders Are Selling
The data indicates that Shiba Inu traders have begun selling off their holdings to hedge against potential losses, after a recent price breakout had allowed them to recover.
As of Saturday, August 29, the Shiba Inu exchange netflow sits at approximately 145,906,600,000 SHIB, marking a modest dip.
While this is a bearish signal for the broader Shiba Inu ecosystem, it shows that the volume of tokens moved onto exchanges for selling purposes exceeds the volume of tokens moved off exchanges in demand by more than 145 billion tokens.
This implies that momentum is fading, with traders no longer willing to hold or accumulate additional tokens amid speculation of a bearish month ahead. The reference to a bearish month echoes a recurring pattern in crypto markets, where September has historically been a weak period for bitcoin and the wider altcoin market, prompting some traders to reduce exposure heading into it.
Shiba Inu Dips 4%
Even as the Shiba Inu ecosystem faces growing bearish momentum, the asset has continued to show mixed price action over recent days.
Notably, Shiba Inu has suddenly flipped into the red, risking a retest below the major $0.000005 level as it posts daily price declines of roughly 3% in recent days. For holders and observers, the netflow figure is worth tracking in coming sessions: a sustained shift back toward withdrawals would signal renewed accumulation, while continued inflows would reinforce the selling-pressure reading.
