Shiba Inu has failed to recover from its recent price drawdown, and bearish momentum is expanding to its exchange activity. According to on-chain data from CryptoQuant, SHIB reserves on exchanges reached 88,076,900,000,000 tokens as of October 3rd, the highest level since approximately June 3rd, marking a four-month high. This record exchange reserve coincides with a significant slowdown in price movement, with the asset dropping nearly 3% in 24 hours and reflecting a positive netflow of over 288 billion SHIB. Analysts predict that bearish traders could be taking over the market, with the exchange netflow indicating that investors are selling off their holdings.
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