Shiba Inu exchange inflows rise to 818 million SHIB, selling pressure possible

Rising exchange inflows

Recent on-chain data reveals that the average exchange inflow now stands at about 818.3 million SHIB, reflecting a 0.97% increase over the previous period. This represents a near 835 million SHIB average for recent transactions moving tokens onto trading platforms after breaking the 800 million threshold.

Overall, total exchange inflows reached 287.59 billion SHIB during the latest assessment interval, while outflows registered only 174.88 billion SHIB. This led to a positive netflow of 112.71 billion SHIB, indicating a net increase in the amount of SHIB controlled by exchanges.

Positive netflow occurs when more tokens are transferred into exchange wallets than withdrawn. While this does not guarantee immediate selling, it often signals a potential increase in readily tradable supply, which could heighten the risk of selling pressure in the market.

A closer look at transaction sizes suggests dominant participation from large holders. The ten largest inflow transactions together shifted 5.67 billion SHIB onto exchanges, while the top ten outflows totaled just 1.95 billion SHIB.

Mini dictionary: On-chain snapshot, a data capture of blockchain transactions and account balances at a specific point in time, often used for analyzing trends in asset movements.

Inflow trends and technical levels

Despite the short-term growth in average exchange inflows, the seven-day moving average for these transactions has dropped by 36.54%. This suggests that, in the broader picture, SHIB inflows to exchanges remain below levels seen in previous surges, and the current uptick could reflect a temporary increase rather than sustained deposit growth.

Shiba Inu continues to trade above its short-term moving averages, which have clustered between $0.00000500 and $0.00000520, with the token currently priced around $0.00000537. Although multiple attempts have been made, the price has yet to secure momentum above the $0.00000550 mark.

The primary technical hurdle remains the declining long-term moving average located near $0.00000560 to $0.00000570. Analysts highlight that a decisive break above this region would reinforce the broader technical outlook for SHIB. If the token can overcome this challenge, the next critical resistance area is set at $0.00000590 to $0.00000620.

While positive netflows reflect more SHIB entering exchanges, this does not automatically trigger selling. However, it does boost the liquid supply, which could affect market dynamics if holders choose to liquidate sizable positions.