Shiba Inu has seen a notable shift in its exchange activity.
On-chain data from CryptoQuant shows that the netflow of SHIB tokens moving to exchanges has turned negative. This means more tokens are being sent to exchanges than withdrawn for holding. The amount reached over 69 billion SHIB in the last day.
Exchange Netflow Turns Negative
When a large amount of a token flows into exchanges, it often signals that holders are preparing to sell. In Shiba Inu’s case, the net outflow from personal wallets to exchange addresses hit around 69.2 billion SHIB. That is a substantial number. Typically, such a surge in available supply would push prices down.
But this time, things played out differently.
Price Defies Bearish Signals
Despite the increased selling pressure, Shiba Inu’s price jumped over 10% in the past 24 hours. It reclaimed the $0.000004566 level, which was a recent high before the sell-off began. This is an unusual divergence. Usually, when exchange inflows spike, prices drop or at least stall. Instead, Shiba Inu moved higher.
What might be happening? It seems buyers are stepping in aggressively to absorb the extra supply. Perhaps some large holders or new investors see the dip as an opportunity. The demand is strong enough to push prices up even as sellers dump tokens onto exchanges.
What This Means for Traders
For now, the market is sending mixed signals. The netflow data leans bearish, but the price action is bullish. This kind of disconnect can be short-lived. Either the buying pressure will fade and prices will correct, or the selling pressure will be fully absorbed and a new rally could start.
It’s worth watching the next few days. If exchange inflows continue to rise, it may eventually weigh on price. But if demand stays strong, Shiba Inu could hold its gains and perhaps push higher. As always, on-chain data is just one piece of the puzzle. The market can behave irrationally, and this might be one of those moments.
