Shiba Inu exchange netflow hits 77 billion SHIB, selling pressure persists

Exchange Netflow on the Rise

CryptoQuant, a blockchain analytics company, has reported that Shiba Inu’s exchange netflow posted a positive balance in the past 24 hours. The netflow surged to over 77 billion SHIB, reflecting an increase of nearly 4% during the period.

This spike indicates that a substantial volume of SHIB tokens has been transferred to exchanges, making them available for sale. As of October 23, the net balance reached 77,298,600,000 SHIB, suggesting that more tokens are flowing into trading platforms than being withdrawn for holding or long-term investment.

Such positive netflow trends are generally interpreted as signs of mounting selling pressure, since rising balances on exchanges can signal that holders are preparing to liquidate their assets.

CryptoQuant reported that the increase in SHIB exchange netflow means the number of tokens sent to exchanges for potential sale far exceeds those being removed, pointing to a possible continuation of bearish sentiment.

The exchange netflow metric is watched closely by traders, as it often correlates with shifts in market sentiment and can foreshadow short-term price movements.

Mini dictionary: Exchange netflow – This metric measures the difference between the amount of a cryptocurrency sent to exchanges (inflow) and the amount withdrawn from exchanges (outflow) over a set period. A positive netflow indicates more tokens moving into exchanges, often interpreted as increased selling pressure, while a negative netflow usually points to accumulation or holding trends.

Market Response and Price Action

Despite increased selling pressure, Shiba Inu’s price reversed its short-term trend and moved into positive territory, reclaiming a local peak around $0.0000051. This shift brought some relief to investors, as a burst of buying temporarily offset earlier losses.

Market watchers noted that this brief upward movement could signal the potential for bullish traders to regain control if new demand materializes.

While Shiba Inu’s netflow data points to persistent selling, the recent price bounce has offered hope to participants who believe momentum could soon shift in favor of buyers.

The dynamic between exchange activity and price movement underscores the ongoing uncertainty in the meme coin segment, where rapid sentiment shifts frequently drive sudden volatility.