More than 207,977,100,000 SHIB left centralized exchanges in 24 hours according to CryptoQuant, pushing netflows above 5%. The movement highlights rising self custody behavior across holders, often linked to accumulation rather than immediate selling. Despite persistent outflows, SHIB trades near $0.
Scorching past a $3.32 billion market cap, Near now ranks higher than the second-largest meme coin.
More than 207 billion SHIB have left the exchange platforms in 24 hours, according to CryptoQuant data. This movement comes as the token price remains stuck below $0.0000054, in a market under strong selling pressure.
Shiba Inu futures flow dropped 190% in 24 hours as traders closed positions while weak price movement reduced activity.
A great capital rotation is unfolding in the cryptocurrency market, putting the memecoin Shiba Inu (SHIB) on the verge of falling out of the top 30 largest assets, according to CoinMarketCap.
Shiba Inu has seen sustained demand as its recent exchange activity shows that holders have continued to aggressively move tokens out from crypto exchanges.
The outcome of the contest between derivative and Spot traders may shape SHIB's near-term price action outlook.
Shiba Inu (SHIB) traded largely sideways on Tuesday following a volatile week marked by intense selling pressure across the broader cryptocurrency market. Over the past seven days, the second-largest meme coin has fallen nearly 4%, remaining stuck within a narrow range since mid-May as investor sentiment stayed cautious.
Open interest in Shiba Inu climbed 2.1% over the past 24 hours even as spot trading volume fell 18%, sending conflicting signals about where the token is headed next. Related Reading: History Shows Bitcoin ETF Outflows Favor Accumulation, Says Santiment What The Chart Is Showing SHIB is currently trading around $0.0000056, near its historic lows, after dropping 10% in the past seven days.
Shiba Inu's burn rate has taken a hit, with the dog-themed cryptocurrency recording an extremely low burn total over the past 24 hours. Just $2 SHIB were burned in the past day, a significant drop compared to what was previously seen.
After losing its short-term ascending channel support, Shiba Inu is still stuck in a structurally vulnerable setup. Even though the downward momentum has somewhat slowed near local lows, the most recent breakdown demonstrates that sellers still control the overall trend.
Data from CoinGlass shows that Shiba Inu has experienced a 306% decline in futures flow in the past 24 hours. The inflow of Shiba Inu futures was $3.82 million while the outflow was $4.25 million.