“Bought” SHIB—“Exchange reserves back to 880 trillion; selling pressure is coming.” People with heavy positions may easily treat it like a countdown to selling. If tokens are transferred into an exchange, it only means the storage location has changed; it has not yet become a spot sell order. That hot post didn’t provide the data platform, which exchanges are covered, or the statistical time window—so this figure can’t be independently verified.
On-chain reserve statistics rely on identifying exchange wallets. Address label updates and wallet reallocations can all rewrite the displayed balances; those transferring in may not necessarily be preparing to sell immediately. Even Glassnode, which does this kind of data work, notes that exchange balances may miss some addresses, and historical numbers may be revised as labels get updated.
If you’re truly worried about selling pressure, first find the original data and the time convention, then check whether SHIB spot trading activity and price weaken during the same period. Without these two steps, “reserves increasing = will drop within two hours” is just speculation. Don’t let a chart with no source determine your position.
On-chain reserve statistics rely on identifying exchange wallets. Address label updates and wallet reallocations can all rewrite the displayed balances; those transferring in may not necessarily be preparing to sell immediately. Even Glassnode, which does this kind of data work, notes that exchange balances may miss some addresses, and historical numbers may be revised as labels get updated.
If you’re truly worried about selling pressure, first find the original data and the time convention, then check whether SHIB spot trading activity and price weaken during the same period. Without these two steps, “reserves increasing = will drop within two hours” is just speculation. Don’t let a chart with no source determine your position.