Shiba Inu Coin Exchanges See Record Eight-Day Outflow Streak

Smart money has been quietly moving Shiba Inu coin (SHIB) off exchanges and into long-term storage. According to CryptoQuant, SHIB's net flow on trading platforms has remained negative for a record eight consecutive days since July 3.

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, while a modest inflow of around 131 billion SHIB was deposited on trading platforms for potential sale. The net deficit on exchange order books was 95.35 billion SHIB in just one day.

Total SHIB holdings on centralized platforms fell to 86.69 trillion tokens as the meme coin's price stabilized near $0.00000438. SHIB has gained approximately 4.12% since the beginning of July, but remains trapped in a narrow range after a difficult June when the asset lost 24%. The seven-day average number of SHIB deposits to exchanges fell by 69%, while the equivalent figure for withdrawals declined by 78%.