• Over 25 billion SHIB in sale mode
• Shiba Inu fails $0.000006 target

Just about two days after Shiba Inu saw a rapid price rally, the asset is back to trading in a downside trajectory as its exchange activity signals rising sell pressure.

On Wednesday, June 17, data provided by crypto analytics platform CryptoQuant shows that the Shiba Inu exchange flow has flipped bearish again, with multi-billion SHIB tokens returned to exchanges within a day.

Over 25 billion SHIB in sale mode

The data has revealed a significant difference between the Shiba Inu exchange inflow and outflow, with the former being on the larger side, suggesting that traders have sold more tokens than they have bought in the past day.

As such, the Shiba Inu exchange netflow is currently sitting at 25,245,300,000 SHIB as more tokens have been sent back to exchanges in several attempts to sell as momentum fades again.

With the Shiba Inu exchange flow turning bearish again, market analysts suggest that speculative traders have taken over the market in the short term, scooping profits realized from the recent market rally.

Shiba Inu fails $0.000006 target

During the recent market rally that saw leading crypto assets including SHIB surge by nearly 10% in their trading prices, traders had predicted that the meme token was on track to reclaim the crucial $0.000006 level.

However, Shiba Inu is suddenly back to trading on the bearish side, showing a price decline of over 3% over the last day. This sudden price drop has brought the asset back to trading below the $0.000005 level.

Nonetheless, analysts have predicted that Shiba Inu could still get another shot at recovery in the near term if buyers return to the scene and the exchange flow turns bullish again.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。