TL;DR:
- The net flow of Shiba Inu on exchange platforms closed at a negative figure of 266 billion tokens withdrawn in a single day.
- The total volume of tokens withdrawn for accumulation exceeded the amount deposited by traders looking to liquidate positions.
- The asset’s market price stood at $0.000004656 after experiencing an intraday drop of 2.83%.
Over the last 24 hours, the buying activity of Shiba Inu whales significantly increased as they withdrew a net volume of 266 billion SHIB tokens. This clear accumulation coincides with a period of high market volatility and a slight decrease in the crypto-asset’s price.
Flow Dynamics on Trading PlatformsÂ
According to information from CryptoQuant, it is evident that investor behavior has shifted. Over the last 24 hours, the amount of SHIB withdrawn from centralized exchanges clearly surpassed deposits intended for sale. This difference resulted in a net balance in favor of accumulation equivalent to 266 billion units of the token.
CryptoQuant reveals in its report that the intensification of transactions on the mainnet suggests a resurgence in buying interest from institutional investors or large retail holders. Technically, this phenomenon is usually interpreted as a sign of relief from immediate selling pressures within order books. Investors are opting for long-term safekeeping by moving their holdings to cold wallets or self-custody private storage.
The divergence between massive accumulation and intraday price evolution is drawing the attention of market analysts. Over the last 24 hours, the asset dropped 2.83% in value, reaching a price of $0.000004656 dollars.
Industry data suggests that the negative drag resulting from last week’s extended volatility still carries considerable weight on spot prices. Current on-chain demand has not yet fully neutralized the remaining take-profit orders or forced liquidations.
Despite the cryptocurrency market as a whole showing signs of stabilization and intermittent daily returns, the price of Shiba Inu continues to struggle to consolidate a firm bullish trend. Consolidation above its immediate local supports remains under close watch by technical traders.
The attention of market participants is now shifting toward the publication of the network’s weekly token burn metrics. Activity reports and transaction processing volumes on the layer-2 solution are projected to provide greater clarity on the short-term sustainability of the ecosystem.
