SHIB holders move 346 billion tokens off exchanges in 8-day record

Shiba Inu holders moved roughly 346 billion tokens off exchanges over eight consecutive days through July 10, the longest recorded outflow streak for the memecoin, CryptoQuant data shows.

Shiba Inu's net exchange flow stayed negative for eight straight days through July 10, with roughly 346 billion tokens withdrawn into long-term storage, CryptoQuant data shows.

The eight-day streak is the longest sustained outflow period since CryptoQuant began tracking SHIB's exchange net flow, the analytics platform said. Large holders led the withdrawals, moving tokens to self-custodial wallets rather than leaving them on exchange order books.

The outflows began July 3 and extended through July 10, marking a record run of negative net flow for the token. Each of the eight days saw more tokens withdrawn than deposited across major trading platforms, CryptoQuant data shows.

The sustained reduction in exchange supply could tighten available liquidity for SHIB trading, potentially amplifying price moves if demand picks up. Reduced exchange balances typically signal accumulation, which historically has preceded price appreciation for memecoins, though past patterns do not guarantee future results.

The move comes as broader crypto markets show mixed signals. Bitcoin's dominance has held above 55% through early July, while altcoin trading volumes have declined from June peaks, CoinGecko data shows. SHIB's supply crunch, if sustained, could decouple the token from broader market trends.

The next test for SHIB's accumulation trend will come if the outflow streak extends beyond 10 days, a threshold that would mark a structural shift in holder behavior rather than a short-term move.

This article is for informational purposes only and does not constitute investment advice.