Shiba Inu's on-chain activity is sending clear bearish signals. Exchange netflow data shows a sharp 6.23% spike in the last 24 hours, pointing to a significant increase in selling activity among SHIB holders.
According to crypto analytics platform CryptoQuant, the difference between tokens flowing into and out of exchanges stands at +356,831,500,000 SHIB as of Wednesday, March 25. A positive netflow reading of this magnitude means that more tokens are entering exchanges than leaving, a reliable indicator of sell-side pressure building in the market.
The spike comes after SHIB had recorded daily price gains of over 3%. The asset has since pulled back sharply. It now trades at $0.00000612, up 0.36% over the past 24 hours.
Over 350 Billion SHIB Tokens Hit Exchanges in 24 Hours
The scale of the inflow is notable. More than 350 billion SHIB tokens moved onto exchanges within a single day. This volume suggests that a meaningful segment of the holder base shifted from a holding posture to an active selling stance.
When exchange netflow turns sharply positive, it typically means holders are depositing tokens in preparation for liquidation. The sheer size of the inflow relative to outflows reinforces that interpretation. Buyers did not absorb the supply at the same pace. The imbalance left the netflow metric at a level analysts consider strongly bearish.
Traders watching SHIB's short-term price action will note that the momentum shift aligns with this metric. The mild price increase now registered is a stark contrast to the prior momentum. It suggests the selling activity has already weighed on market sentiment, even if a full correction has not materialized.
The data reflects a broader pattern seen in volatile meme-based assets. Holders often lock in gains quickly when prices rise sharply. That behavior tends to generate sudden spikes in exchange inflows. SHIB's structure with trillions of tokens in circulation makes such movements more visible at the data level.