Shiba Inu Exchange Netflow Turns Bearish Amid Fading Momentum

Shiba Inu's exchange netflow has turned bearish, according to data from CryptoQuant. The platform reports that Shiba Inu traders are selling their assets, with over 145 billion SHIB tokens moving onto exchanges for potential sale.

This is a change from the bullish signal previously seen in the Shiba Inu exchange activity. The current netflow of around 145,906,600,000 SHIB as of August 29 suggests that selling pressure is mounting on the asset.

The data implies that momentum is fading, with traders no longer willing to hold or accumulate more tokens amid speculation of a bearish month ahead.