Shiba Inu holders appear to be positioning for potential exits. On-chain data reveals a notable accumulation of SHIB tokens on cryptocurrency exchanges, raising concerns about near-term price action. Exchange reserves now hold approximately 82 trillion SHIB tokens, according to CryptoQuant analytics. This represents an increase from 81 trillion tokens at the beginning of 2026. While the change seems modest, the timing coincides with SHIB's retreat from recent highs above $0.000009. Source: CryptoQuant At the time of writing, SHIB trades at around $0.00000864, down 0.53% in the last 24 hours. SHIB’s price action over the past 24 hours (Source: CoinCodex ) The pattern suggests some investors capitalized on the rally to liquidate positions. Exchange deposits typically indicate selling intent, as holders transfer tokens from private wallets to trading platforms. The correlation between rising reserves and price weakness reinforces this interpretation. Net Flows Signal Shift in Market Dynamics Exchange net flow data paints a clearer picture of current sentiment. Recent figures show positive net flows, meaning deposits are outpacing withdrawals. This imbalance suggests that selling pressure is building across the SHIB market. The shift occurred near SHIB's yearly peak, suggesting profit-taking drove the behavior. Broader market conditions have compounded the pressure. Bitcoin's pullback from $94,000 toward $90,000 has dampened risk appetite throughout the cryptocurrency sector. SHIB has not escaped this cooling effect. Derivatives markets reflect the changing momentum. Trading volume in SHIB futures and options has declined by just over 5 percent, settling near $203 million. Open interest has fallen more sharply, dropping over 7 percent to approximately $108 million. These metrics indicate reduced speculative activity. Traders are pulling back from leveraged positions, which often signals uncertainty about short-term direction. However, the long-to-short ratio remains above 1.0, showing that bullish positions still outnumber bearish ones among derivatives traders. Whale Movements and Network Activity Provide Counterpoints Not all indicators point toward weakness. Large-scale transactions have surged recently, offering a different perspective on institutional interest. Santiment data shows a 111 percent spike in SHIB transactions exceeding $100,000 in value. This places Shiba Inu among a select group of tokens with market capitalizations above $500 million experiencing heightened whale activity. Such movements suggest major holders remain engaged with the asset. Whale behavior can signal accumulation or repositioning rather than outright exits. The increase in large transactions occurred despite the broader selling pressure, indicating some sophisticated investors see value at current levels.
