Key Takeaways:
Shiba Inu on-chain transfer volume rose 14.86% in 24 hours to $0.00000442, while 740 whale wallets pulled billions of tokens off exchanges.
CryptoQuant data shows the seven-day moving average of mean exchange outflows surged 195.56% to 920.34 million SHIB, while inflows declined 11.05% to 1.22 billion tokens.
Just 740 whale wallets control 94.57% of SHIB's entire circulating supply on Ethereum, while nearly one million retail addresses with balances up to $10 collectively hold just 0.05%. The largest liquidity hubs — Robinhood with 3.92% of supply, Binance with 3.45%, and Crypto.com with 2.75% — saw deep outflows on Aug. 17 and 18, with net exchange balances falling by roughly 46.7 billion SHIB at the start of the week.
SHIB trades at $0.00000436, down 2.3% over 24 hours, with a market cap of $2.57 billion ranking it 30th among crypto assets. Cronos, ranked 31st at $2.25 billion, sits close enough that another sustained decline could push SHIB out of the top 30.
The transfer volume spike was not driven by retail activity. New wallet growth on the network was essentially flat at +0.004%, and transaction counts remained at baseline levels. Instead, the surge came from several enormous, undivided blocks of capital moving through the network — a pattern consistent with institutional-scale accumulation.
Top 10 exchange outflows reached 7.57 billion SHIB versus roughly 5.97 billion in inflows, according to CryptoQuant. The latest 24-hour figures show withdrawals climbed 2.52% to approximately 375 billion tokens, with net outflows of about 110 billion SHIB. This follows 87 billion SHIB leaving exchanges on a net basis in the prior period.
Large holders are not depositing tokens to sell. They are moving supply to cold wallets, removing it from the market. If this trend persists, declining exchange-held supply could gradually ease short-term selling pressure.
The outflow data offers cautious optimism but does not guarantee an immediate recovery. SHIB remains vulnerable to broader crypto market conditions and trades near recent lows around $0.0000042. Exchange outflows become significantly more bullish when they persist alongside stronger demand and improving market conditions.
Other support factors have weakened. SHIB burns declined 18.95% over the past day to just 2.21 million tokens, reducing the deflationary pressure that had supported the token earlier in the cycle.
For now, the growing withdrawal trend provides a counterpoint to SHIB's recent weakness. If billions of tokens continue leaving exchanges while selling pressure diminishes, Shiba Inu could gradually establish the conditions needed for stabilization. The 740 whales that control this asset are methodically buying up supply and moving tokens off the market, potentially laying the groundwork for a breakout from the prolonged sideways trend.
This article is for informational purposes only and does not constitute investment advice.
