Shiba Inu's Exchange Flows Suggest Rally Is Losing Steam

Shiba Inu (SHIB) is showing fresh signs of selling pressure after its August rebound, according to recent exchange flow data.

CryptoQuant data showed net exchange inflows of roughly 145.9 billion SHIB on Aug. 29, indicating more tokens entered tracked exchanges than left them.

This increase in available supply could potentially make it easier for holders to sell, but the metric does not prove that all 145.9 billion tokens will be sold immediately.

SHIB's rally appears to be running out of steam as the token retreats toward the psychologically important $0.000005 level.