I just noticed a quite interesting signal in the SHIB blockchain data - net inflow to exchanges surged by 113% in the past 24 hours, with approximately 182 billion tokens transferred into exchanges. This usually suggests that holders are preparing to sell, not accumulate.

What’s concerning is that exchange reserve data also confirms this trend - the amount of SHIB on exchanges has increased significantly over the past two days, mainly at the end of the week and on Monday. When SHIB’s inflow to exchanges spikes like this, it often comes with increased selling pressure. The price of SHIB has dropped nearly 22% over the past 30 days, so adding more supply to exchanges at this point only makes things more difficult.

However, there is a somewhat positive sign - the number of active addresses has increased by 0.87% in the past 24 hours, and the number of transactions has also risen by 0.81%. This indicates that despite the strong inflow and outflow of SHIB, user activity remains stable. So, it remains a mixed signal - there’s selling pressure, but also ongoing community participation. If nothing changes, SHIB could continue to adjust in the near future.