SHIB Exchanges Experience Record-Breaking Outflow Streak

Large transfers of Shiba Inu (SHIB) coins have slowed down, but reserves on centralized platforms continue to decrease. Since July 3, SHIB's net flow on trading platforms has remained negative for a record eight consecutive days.

According to analytics platform CryptoQuant, smart money controlling up to 94.5% of the token's supply has reduced selling and withdrawn hundreds of billions of tokens to 'cold' wallets over this period.

The movement of tokens over the past 24 hours is reflected in the following metrics: a massive outflow of 226.3 billion SHIB left exchange accounts for private addresses, a modest inflow of around 131 billion SHIB was deposited on trading platforms for potential sale, and a net deficit of 95.35 billion SHIB lost by exchange order books in just one day.

Reserves near the bottom: Total SHIB holdings on centralized platforms fell to 86.69 trillion tokens.