Shiba Inu is showing fresh signs of selling pressure after its August rebound, with exchange flows turning positive just as SHIB retreats toward the psychologically important $0.000005 level.
CryptoQuant data showed net exchange inflows of roughly 145.9 billion SHIB on Aug. 29. Positive netflow means more tokens entered tracked exchanges than left them, increasing immediately available supply and potentially making it easier for holders to sell. It does not prove that all 145.9 billion tokens will be sold, however, so describing the entire amount as “ready for sale” would overstate what the metric shows.
The shift comes only a day after exchange netflow reached roughly 261.7 billion SHIB, suggesting selling pressure has remained elevated even as the daily balance moderated.
SHIB Gives Back Part of Its August Rally
The bearish flow signal follows a strong recovery earlier this month. SHIB climbed from around $0.0000044 on Aug. 18 to $0.00000590 by Aug. 21, before losing momentum. CoinGecko historical data shows the token closed Aug. 28 around $0.00000519, leaving it roughly 12% below that recent peak.
That pullback matters because SHIB's earlier advance appeared to benefit heavily from a wider crypto rebound rather than a purely Shiba Inu-specific catalyst. Our look at the SHIB rally found that the token lagged several major cryptocurrencies even as risk appetite improved across the market.
$0.000005 Becomes the Key Short-Term Level
For traders, the immediate question is whether SHIB can defend $0.000005. A sustained break below that area would erase more of the late-August recovery and could reinforce the bearish message coming from exchange flows.
Still, inflows should not be viewed in isolation. Tokens can move to exchanges for market making, collateral or portfolio management rather than an immediate sale. SHIB also continues to remove supply through burns, although those amounts remain small compared with its circulating supply of roughly 589 trillion tokens. Our evergreen guide to the SHIB burn explains why burns matter more over longer periods than during short-term trading swings.
The latest data therefore points to a weaker near-term setup, but not necessarily a collapse. SHIB has already demonstrated how quickly sentiment can reverse: it traded near $0.0000047 during the broader Aug. 20 crypto rebound before accelerating above $0.000005.
For investors less familiar with the asset, Coinpaper's SHIB guide covers the token, its ecosystem and the risks associated with trading the highly volatile meme coin. The next test is straightforward: whether buyers return around $0.000005 before exchange inflows translate into a deeper correction.