On-chain metrics show a sharp increase in exchange outflows, suggesting that large holders may be aggressively removing tokens from trading platforms, even as SHIB price action continues to drift lower inside a larger downtrend.
According to the Shibburn website, millions of SHIB surpassing 34 million tokens were burned in the last seven days, yet the SHIB weekly burn rate stays negative.
Despite ongoing price chart weakness, Shiba Inu shows a shift in on-chain activity. Exchange outflow pressure, one of SHIB's historically important metrics, has drastically decreased over the last 24 hours, possibly signaling reduced movement of funds away from exchanges.
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Shiba Inu saw billions of SHIB hit exchanges on May 18 as crypto market liquidations accelerated. On-chain exchange flow data tracked by CoinGlass shows SHIB open interest at $61.
As on-chain data reveals a sharp rise in exchange inflows, Shiba Inu (SHIB) is under fresh bearish pressure, while the larger memecoin market continues to struggle with significant liquidations and lackluster momentum.
Following the rapid disappearance of nearly 500 billion SHIB from centralized exchange reserves, Shiba Inu is exhibiting an unexpected change in on-chain behavior.
Once again, Shiba Inu is getting close to the 82 trillion SHIB exchange reserve threshold, one of the most closely watched on-chain levels in its ecosystem. Following months of erratic outflows and accumulation activity, centralized exchanges currently hold approximately 81.9-82.3 trillion SHIB tokens, according to recent exchange reserve and netflow data.
Shiba Inu's daily burn rate surged more than 1,000% in the last 24 hours, with over 27 million SHIB permanently removed from circulation. The renewed supply reduction push comes as exchange reserves continue to fall and whale wallets move tokens into private storage. At the same time, fresh progress on U.S.
Shiba Inu burn rate jumps 1,034% as 27 million SHIB exit circulation in 24 hours, pushing weekly and monthly totals higher.
Dog-themed cryptocurrency, Shiba Inu (SHIB), has regained deflationary momentum with its daily burn rate increasing by four figures.
With SHIB exchange netflows turning negative for the first time in seven days, Shiba Inu has more tokens exiting exchanges than entering them, which traders frequently interpret as a decrease in the pressure to sell right away.