138B SHIB Returned to Exchanges as Selling Pressure Rises, Price Fails to Recover
Shiba Inu (SHIB) saw a sharp increase in exchange netflow on Feb 21, 2026: on-chain data from CryptoQuant reported +138,022,600,000 SHIB (over 6% surge) moved to exchanges in 24 hours. The netflow spike indicates tokens returned to exchanges vastly outnumbered withdrawals, signaling heightened selling pressure amid prolonged market volatility. SHIB price has struggled to recover, hovering near $0.0000065, and recent on-chain indicators and stalled demand have weakened investor confidence. Traders are split: many retail and institutional holders appear unwilling to hold through the downturn, while some remain optimistic about a larger recovery after the bear phase ends. Key points for traders: large netflow inflows typically increase short-term downward pressure on price, raise volatility, and may trigger stop-loss cascades; monitor exchange flows, on-chain sell volume, and order-book depth for short-term trade entries or exits.
Bearish
The reported +138.0 billion SHIB netflow to exchanges is a classic indicator of rising selling pressure. Historically, large token inflows to exchanges precede price declines because they increase available sell liquidity and can overwhelm buy-side demand, especially for low-price, high-supply tokens like SHIB. Combined with stalled price action around $0.0000065 and weakening on-chain demand signals, the near-term outlook is bearish: expect increased volatility, potential further downside and stop-loss cascades. In the short term, traders should watch exchange inflows, on-chain sell volume, and order-book imbalances to time trades or protect positions. In the medium to long term, recovery remains possible if inflows reverse (net withdrawals) and broader market sentiment improves, but sustained accumulation or a catalyst (e.g., major listing, ecosystem developments) would be needed to shift the outlook bullish. Similar past events (large netflow spikes for meme tokens) typically produced short-term drawdowns followed by slow recoveries only after significant reduction in exchange supply.