Shiba Inu Faces Renewed Selling Pressure Despite New Visibility Boost in Japan

Shiba Inu has come under renewed selling pressure after billions of SHIB tokens moved to cryptocurrency exchanges over the past 24 hours. 

According to data from CryptoQuant, investors transferred 352.53 billion Shiba Inu to exchanges during the period, while only 317.44 billion SHIB left trading platforms. As a result, SHIB recorded a positive exchange netflow of 35.08 billion tokens.  

Exchange netflow measures the difference between tokens entering and leaving cryptocurrency exchanges. A positive reading indicates that more assets are flowing into exchanges than out, a trend that often points to increasing selling pressure because traders typically deposit tokens before selling them.

Although exchange inflows do not automatically lead to immediate selling, sustained positive netflows often suggest that investors are positioning themselves to trade or liquidate their holdings.

SHIB Exchange Reserves Continue to Increase

Meanwhile, SHIB’s exchange reserves also edged higher. Following the latest transfers, the total amount of SHIB held across exchanges climbed to 86.497 trillion tokens, representing a 0.04% increase over the previous 24 hours.

Growing exchange reserves generally indicate that more tokens are readily available for trading. Consequently, if investors decide to sell, the additional supply could weigh further on SHIB’s price. The latest on-chain data, therefore, adds to concerns about the meme coin’s short-term outlook as it continues to struggle amid broader market weakness. 

Recent Inflows Reverse Earlier Bullish Trend

The latest exchange activity marks a clear reversal from the bullish trend observed only days ago. Earlier reports showed that investors withdrew more than 1.4 trillion SHIB from centralized exchanges in 10 days. 

Large exchange outflows are typically viewed as bullish because they suggest holders are moving assets into private wallets for long-term storage instead of preparing to sell.

However, the latest positive netflow indicates that market sentiment may have shifted, with more SHIB now returning to exchanges.

SHIB Extends Decline in Crypto Rankings

The bearish on-chain metrics have also coincided with Shiba Inu’s continued decline among the largest cryptocurrencies by market capitalization. After recently falling out of the top 30, SHIB has now slipped to 33rd place. At $0.000004091, SHIB carries a market cap of $2.41 billion. 

Currently, Shiba Inu is down 3.2% over the past 24 hours, 5.65% over the last seven days, and 16.81% over the past month. The decline comes as SHIB misses a potential institutional exposure boost after T. Rowe Price’s Active Crypto ETF launched without including the meme coin among its selected assets. 

Japan Gives Shiba Inu a Major Visibility Boost

Despite the bearish on-chain signals, Shiba Inu recently received a significant boost in Japan through one of the country’s largest fintech companies.

Japanese cryptocurrency platform Rakuten Wallet introduced the first physical Shiba Inu commemorative coin as part of its “Real Coin” collectible series. Unlike previous Bitcoin, Ethereum, and XRP editions, the SHIB version features a premium sandblasted matte finish that reportedly earned unanimous approval during internal testing.

Although the commemorative coin does not include blockchain functionality, Rakuten Wallet plans to display it at live events and promotional campaigns throughout its retail ecosystem, which reaches roughly 44 million users.