More than 28 billion SHIB exited exchanges, reducing selling pressure. Holder growth continued in June, signaling sustained community participation. SHIB price remains down despite accumulati
More than 28 billion Shiba Inu tokens left cryptocurrency exchanges within 24 hours, signaling that investors may be increasing accumulation despite the token’s ongoing price weakness.
According to CryptoQuant data, SHIB recorded an exchange netflow of negative 28.3 billion tokens on June 20. The reading indicates that withdrawals exceeded deposits by a significant margin, suggesting that more traders moved their holdings off exchanges than onto them.
Exchange netflow remains one of the most closely watched on-chain indicators because it helps measure investor behavior. When large amounts of tokens leave exchanges, holders often intend to store them rather than sell them immediately. Consequently, reduced exchange balances can help ease selling pressure.
The latest development suggests that demand for SHIB is beginning to improve even though the token has not yet reflected that strength on the price chart.
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CryptoQuant’s data shows that over 28 billion SHIB were withdrawn from exchanges during the reporting period. That means buying activity outweighed selling activity by a substantial margin.
Moreover, the movement comes shortly after Shiba Inu recorded continued growth in its holder base. Recent on-chain data showed that thousands of new wallet addresses joined the network during June, highlighting sustained community participation despite broader market uncertainty.
Investors often monitor exchange balances for signs of accumulation. As tokens move into private wallets, the immediately available supply on trading platforms declines. Hence, continued withdrawals can create conditions that support future price stability if demand remains consistent.
Besides the exchange outflows, sentiment across parts of the cryptocurrency market has shown modest improvement. Bitcoin and several major digital assets posted gains over recent sessions, helping restore some confidence among traders.
Despite the positive exchange data, SHIB remains under pressure in the short term. At the time of writing, the token traded around $0.000004710, representing a 1.28% decline over the previous 24 hours.
However, market participants continue watching whether the current accumulation trend can persist. Sustained outflows would indicate that investors remain willing to hold rather than sell.
Although the price remains in negative territory, the latest exchange netflow data presents a more constructive picture for Shiba Inu. If demand continues to absorb available supply, the token could gain support from improving on-chain fundamentals in the coming weeks.
Shiba Inu’s latest exchange netflow data indicate growing accumulation, with more than 28 billion SHIB leaving exchanges. While the token continues to trade lower, a shift in investor behavior suggests selling pressure may be easing, creating a foundation for a potential recovery if buying demand remains steady.
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The post Shiba Inu Sees 28 Billion SHIB Leave Exchanges as Accumulation Grows appeared first on 36Crypto.
