Shiba Inu (SHIB) Sees Billions of Tokens Injected to Exchanges: Crypto Market Liquidations Hits Memecoins

As on-chain data reveals a sharp rise in exchange inflows, Shiba Inu (SHIB) is under fresh bearish pressure, while the larger memecoin market continues to struggle with significant liquidations and lackluster momentum.

Billionaires are selling

According to recent metrics, over 303 billion SHIB entered exchanges in the past day, and Exchange Inflow (Top10) surpassed 6.1 billion tokens. The overall exchange outflow, however, did not keep up, indicating that more holders are getting ready to sell rather than transfer tokens into self-custody.

Source: Cryptoquant

The consistent drop in exchange reserves is one of the most obvious warning indicators. The Exchange Reserve USD metric dropped more than 3%, indicating that the dollar value of SHIB sitting on exchanges continues to decline alongside price weakness, even though reserves fell 0.34% over the previous day.

There was a slight increase in active addresses, but it seems that transfer activity rather than actual accumulation caused the increase.

Additionally, the TradingView chart shows a declining structure. After repeatedly failing to recover important moving averages, SHIB recently broke out of a rising wedge formation. The fact that the price is still below the 50-, 100-, and 200-day moving averages shows that sellers are still in charge of the overall trend.

After failing to hold above the neutral 50 level, the RSI also saw a significant decline, heading toward oversold territory. This typically indicates growing selling pressure rather than accumulation when combined with rising exchange inflows.

Because it may indicate planned distribution, large holders transferring billions of SHIB to exchanges frequently causes panic in retail markets.

Shiba Inu's future