Shiba Inu Faces Sell Pressure After 208% Spike in Exchange Deposits
Shiba Inu (SHIB) is under renewed selling pressure after CoinGlass reported a 208% surge in SHIB deposits to centralized exchanges over 24 hours. Positive exchange netflow — tokens moving onto exchanges — typically signals intent to sell and is bearish. SHIB traded around $0.00000608, down about 1.2% in 24 hours, with 24-hour volume falling ~6.7% to $149.9 million. Year-to-date SHIB remains down over 53%; it has lost ~6.6% in the past 30 days despite a recent weekly gain of roughly 4.9%. Technicals showed a bullish hourly golden cross and a short-term ~8% rise, but the sudden jump in exchange inflows suggests profit-taking or position exits that could erase recent gains. On-chain activity also recorded over 4 million SHIB burned after a 63% rise in the burn rate, an effort by the community to support price. Competing meme coin DOGE has shown relative resilience, which may divert demand. For traders: heightened exchange inflows raise near-term downside risk for SHIB; falling trading volume implies thinner liquidity and potential for larger price moves on orders; watch exchange netflow, on-chain burn trends, short-term moving averages, and open interest for cues on whether selling pressure will intensify or subside.
Bearish
The news is bearish for SHIB price in the near term. A 208% spike in exchange deposits indicates increased sell intent and raises the probability of profit-taking or exits that can exert downward pressure. Declining 24-hour trading volume (~6.7% drop) suggests thinner liquidity, which can amplify price moves when large sell orders hit the market. Although an hourly golden cross and a recent short-term rally indicate temporary bullish momentum, those technical signals have not held amid rising exchange inflows. On-chain burns (4M+ SHIB) provide some supply-reduction support, but the scale is small relative to circulating supply and unlikely to offset concentrated selling on exchanges. Competing demand for DOGE could further sap buying interest. Traders should expect heightened volatility and a greater risk of downside in the short term; monitor exchange netflow, orderbook depth, open interest and short-term moving averages for signs of intensified selling or a reestablishment of buying pressure. Over the medium-to-long term, sustained price recovery would require persistent buy-side demand, reduced exchange outflows, or materially larger burns.