Shiba Inu Exchange Netflow Turns Negative as 20 Billion SHIB Leave Major Exchanges
Shiba Inu (SHIB) recorded a significant outflow of tokens from major cryptocurrency exchanges over the past 24 hours, even as some of its largest holders continued depositing funds onto trading platforms. CryptoQuant data shows that SHIB registered 20.0745 billion tokens in negative netflow, indicating that withdrawals exceeded deposits during the period.
The data presents a mixed picture of large-holder activity. The top 10 SHIB wallets deposited 2.281 billion tokens over the same 24-hour period, while another 3.4772 billion SHIB were withdrawn from exchanges, according to CryptoQuant.
Shiba Inu exchange reserves currently stand at 86.1617 trillion SHIB, valued at approximately $384.28 million. The reserve balance declined by 0.02%, while its dollar value fell by 0.47%.
SHIB Exchange Withdrawals Outpace Deposits
The negative netflow figure suggests that more SHIB left major exchanges than entered them during the measured period. Exchange deposits can sometimes indicate potential selling activity, particularly when large holders move tokens onto trading platforms. However, the overall negative netflow shows that withdrawals were greater than deposits across the exchanges tracked.
The activity among the largest wallets therefore does not tell the entire story. Although the top 10 wallets transferred 2.281 billion SHIB to exchanges, broader exchange data recorded substantially higher withdrawals.
Shiba Inu Price Faces Pressure Near Local Support
SHIB has continued to struggle following a brief recovery rally earlier in November. TradingView data shows that the token recently lost the $0.00000480 support level, which had been an important price area.
Shiba Inu was trading at approximately $0.00000447 in the latest figures provided, moving sideways near its local bottom. The immediate support zone is estimated at $0.00000440 to $0.00000442.
If that support area fails, $0.00000410 could become the next potential downside level. The source analysis identifies this price as a possible target if the decline continues.
$0.00000480 Remains a Key Recovery Level
On the upside, SHIB would need to reclaim $0.00000480 to signal a possible recovery. A move above that level could open the way toward the $0.00000540 to $0.00000550 range, an area the token tested in October.
For now, exchange flows show that withdrawals remain dominant despite deposits from the largest SHIB wallets. Meanwhile, the price continues to trade close to its local support zone, leaving the next move dependent on whether buyers can defend that area or sellers push the token lower.
source: u.today
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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