Shiba inu exchange reserves jump 13.8T SHIB without big selloff

In the past week, the amount of Shiba Inu tokens held on major exchanges saw a remarkable increase, with reserves rising by approximately 13.88 trillion SHIB to reach a total of 80.45 trillion tokens. According to on-chain data, such a large inflow would typically spark concerns over growing selling pressure. However, the anticipated sharp downturn in SHIB’s price failed to materialize, leaving investors questioning what comes next.Exchange flows see major uptickNetwork activity remains resilientTechnical pressures persist Exchange flows see major uptickData reveals that total SHIB deposits to exchanges hit 422.97 billion tokens during this period, while 264.47 billion tokens were withdrawn. This resulted in a net inflow of 158.5 billion SHIB, indicating that more tokens entered exchanges than left. Despite this significant movement, the market did not experience an accompanying strong wave of sell orders, which is often expected with such inflows.Even as the SHIB supply on exchanges grows, we have yet to witness the kind of decisive selling activity usually seen with inflows of this magnitude.This situation suggests that not all tokens transferred to exchanges were destined for immediate sale. Factors such as market-making, portfolio rebalancing, or liquidity management may be motivating these movements. Additionally, long-term holders seem reluctant to sell at current price levels, which has helped keep supply-side pressure in check for now.Network activity remains resilientOn the blockchain, SHIB’s network activity appeared relatively balanced. There were nearly 90,916 active buyer addresses and a total of 138,666 active addresses recorded. Meanwhile, the number of transfers stayed steady at about 2,954. These network metrics indicate that participation among SHIB users has continued even as prices weakened in the short term. Glossary: Net flow refers to the difference between assets entering and leaving exchanges. A positive value means there was a net inflow to exchanges during the period in question.The consistency in active addresses and transfers highlights that market participation within the SHIB ecosystem remains high despite downward price pressure.Technical pressures persistFrom a technical perspective, downward pressure on SHIB has yet to subside. On the daily chart, SHIB is still trading below its 50, 100, and 200-day moving averages, which now act as key resistance levels. Moreover, the rising channel that supported prices throughout March, April, and May was recently breached to the downside.Following the breakdown from this channel, SHIB’s Relative Strength Index fell below 30, entering oversold territory before showing only a limited recovery. Current on-chain and trading data suggest that the additional supply entering the market has been absorbed more smoothly than expected. However, whether exchange inflows accelerate and how the broader crypto market performs in the coming weeks will likely determine whether SHIB’s resilience holds.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.