Shiba Inu Sees 429B Tokens Moved in 24 Hours as Exchange Reserves Climb

On-chain and exchange-related activity at Shiba Inu has significantly increased over the past 24 hours, with more than 429 billion $SHIB passing through exchanges, but the trend of that activity is not particularly optimistic for holders. Total net flow increased by more than 10%, and exchange reserves climbed to approximately 81.7 trillion $SHIB. This is significant because growing reserves typically indicate more tokens are being transferred to exchanges, which is generally interpreted as a sign of impending selling pressure rather than bullish accumulation.

The data suggests market participants are positioning to offload rather than accumulate. Inflows are currently exceeding outflows, and rising exchange supply paints a cautionary picture despite the surge in volume. This pattern of imbalance—where activity is tilting toward sell-side liquidity rather than clean accumulation—means any price recovery attempt faces headwinds.

That selling pressure is reflected in price action. The recent recovery attempt has created a weak ascending channel, which analysts view more as a relief move than a trend reversal, while $SHIB remains trapped in a descending structure on the longer timeframe. The asset is currently approaching a confluence of resistance near the 50–100 EMA cluster, where rallies have repeatedly failed in the past. Technically speaking, this represents a compression zone under resistance rather than a breakout setup.

There has been a slight increase in active addresses, which may indicate increased participation, but that activity does not result in persistent buying pressure unless accompanied by a corresponding decline in exchange reserves or a shift toward net outflows. Unless $SHIB can break above the immediate resistance zone around $0.0000064–$0.0000066 with strong volume, the structure is likely to remain fragile. Below the ascending channel's lower trendline, the $0.0000060 level would be first exposed, followed by a potential deeper decline toward recent lows.