Shiba Inu Netflows Spike as $SHIB Tokens Flood Exchanges

The Shiba Inu cryptocurrency has been experiencing mixed price actions in recent days, but one indicator is flashing a bearish signal. According to data from crypto analytics platform Cryptoquant, the exchange netflow of $SHIB tokens has surged by 6.23% over the last 24 hours.

This means that more than 350 billion $SHIB tokens have returned to exchanges, indicating a significant increase in selling activity. The surge in netflow coincides with a mild drawdown in the asset's trading price, which had previously shown daily increases of over 3%.