Shiba Inu Faces Challenges as Prices Stumble, Driven by Increased Sell Pressure

Shiba Inu (SHIB) is experiencing a brief respite from its recent price slump, but the market’s latest trends suggest a potential slowdown in bullish momentum. CryptoQuant highlights a significant outflow of SHIB tokens from wallets to exchanges over the past 24 hours, hinting at increased selling pressure among holders. This activity contrasts with typical accumulation patterns seen during bullish runs when tokens leave exchanges for long-term growth. Further fueling these concerns is the rise in exchange reserves. This trend often precedes sell-offs, signaling traders are actively preparing to liquidate their holdings. 284 billion SHIB tokens moved between exchanges in this period, and rising reserve levels raise doubts regarding a sustained rally. ?