About 332.5 billion SHIB was transferred to exchanges over 24 hours, adding to selling pressure on Shiba Inu. Data cited from CryptoQuant showed net inflows rising by nearly 4%, a move that pointed to heavier sell-side activity across major trading venues.
SHIB was trading near $0.0000063, a level last seen in mid-2023, after a daily drop of close to 6%. An analyst who tracks meme-token flows said persistent exchange deposits usually raise downside risk. In the current pullback, market behavior suggested that investors were leaning toward capital preservation, while weak spot demand left price rebounds unstable.
On-chain flows show transfers to exchanges, not broad accumulation
On-chain activity indicated limited accumulation from larger wallets. The clearer pattern was steady movement toward exchange addresses. Spot trading volume also remained muted during recovery attempts, which suggested fragile conviction across the market. Buyers were present, but not in enough size to change the tone.
The report described the move as Shiba Inu’s sharpest correction of the year. Gains built during months of gradual recovery have now been erased, slowing retail participation and keeping institutional involvement limited during the decline.
Meme tokens face heavier pressure as risk appetite stays selective
Broader uncertainty in crypto continued to weigh on speculative assets. Bitcoin and Ethereum showed signs of stability, yet that did not translate into a wider return of risk appetite across altcoins. Meme tokens were left more exposed to concentrated selling. In derivatives, traders were also cutting leverage, reflecting a defensive stance as volatility persisted.
The analyst also pointed to pressure around key psychological price levels. A move toward lower decimal places could damage sentiment further, reduce dip-buying interest, and extend the consolidation phase. For that pressure to ease, the market would likely need sustained exchange outflows rather than continued deposits.
No panic liquidation signal, but near-term upside remains capped
Selling was described as orderly, with no sign of panic-driven liquidations. Even so, ongoing inflows may keep limiting any short-term recovery attempt. Unless token flows shift and demand improves, SHIB may continue to face the risk of adding another zero to its price.