Shiba Inu Reclaims Top 30 Spot as Whales Block Panic Selling and Create Supply Deficit

Shiba Inu (SHIB) has reclaimed its spot in the top 30 strongest cryptocurrencies, thanks to coordinated buying by large-capital investors. Despite a heavy downtrend during the last week of June, whales managed to halt panic selling and move the market into a phase of quiet accumulation.

According to CryptoQuant data, exchange outflows have been significant since June 25, with a net withdrawal of 781.227 billion SHIB tokens from exchanges to private wallets in just four days.

The total exchange reserves of Shiba Inu coin dropped from a peak of 87.96 trillion to 87.18 trillion tokens, fully absorbing the recent seller overhang and blocking the decline.

While SHIB's price remains trapped in a narrow horizontal range between $0.00000414 and $0.00000430, whales are creating a supply deficit on exchanges, preparing for a potential strong impulse at the slightest positive signal from Bitcoin.