Shiba Inu Faces Renewed Selling Pressure as Exchange Netflows Turn Positive

Shiba Inu's exchange netflows have turned positive, with a significant increase in the number of coins moving to exchanges. According to CryptoQuant data, this indicates that there is increased selling pressure on the meme coin.

The difference between exchange inflows and outflows is around 39 billion SHIB, which suggests that more holders are moving their coins to exchanges than withdrawing them. This development coincides with the SHIB price decline, with the meme coin down 5% in the last week.