Latest on-chain data on Shiba Inu (SHIB) shows that there is a strong selling pressure as the amount of tokens transferred to exchanges increases rapidly. This development, combined with the recent weak performance in the memecoin market in general, pointed to a significant decrease in investors’ risk appetite.
Heavy SHIB Flow to Stock Exchanges
More than 303 billion SHIBs were sent to exchanges in the last 24 hours. In particular, it was observed that the flow of the 10 largest wallets exceeded 6.1 billion tokens. In contrast, the amount of SHIB exiting the stock exchanges lagged behind this increase. This seems to indicate that more investors are inclined to sell their tokens.
While the total dollar value of SHIB reserves on the stock exchanges decreased by 0.34 percent in the last day, it has generally decreased by more than 3 percent in the recent period. This reveals that reserves decline together with the weakness in prices.
Market Structure and Trading Dynamics
There was a slight increase in the number of active wallets, but it was observed that this movement was due to transfers rather than new purchases. Unable to move up key average price levels, SHIB broke down a rising wedge formation. Current prices are trading below key 50-, 100- and 200-day moving averages. This chart indicates that sales maintain their weight.
The Relative Strength Index (RSI) also failed to hold above the neutral level of 50, experienced a rapid decline and approached the oversold region. With increasing stock market entries, this signal is interpreted as selling pressure gaining weight rather than buying.
This move by large investors, who are pouring billions of SHIB into the stock markets, is causing concern, especially among individual investors; such transactions are often seen as a sign of preparation for deployment.
Market Sentiment and Possible Scenarios
Considering that sentiment in Memecoin markets can change very quickly, it is stated that investors either turn to safer areas or close their positions completely when the momentum in price movements disappears. The segment that makes leveraged investments also reduces their positions due to risk aversion, which may start a new downward wave in SHIB if prices continue to remain below the decisive levels.
Despite this, if the inflows to the exchanges slow down and the number of active addresses increases steadily, there is a possibility that SHIB will form a base close to current levels. The biggest obstacle to this is the inability of Bitcoin and the general cryptocurrency market to initiate an upward movement.
At this stage, indicators on the chain indicate that the pressure continues. Unless clear buying interest emerges in the short term, volatility is expected to remain high across the entire memecoin market.
