Shiba Inu's Price Rally Stalls as Sell Pressure Mounts

Shiba Inu's recent price rally has slowed down, and it is currently trading around $0.0000052.

The data from CryptoQuant shows that Shiba Inu exchange netflow is at a positive value of 261,705,600,000 SHIB as of August 28, indicating rising sell pressure.

This means that the amount of tokens moved to exchanges for selling purposes is greater than the amount of tokens moved out of exchanges by over 261 billion tokens.

Analysts fear that if momentum does not return and traders continue to sell, Shiba Inu could lose its major $0.000005 price level soon.