Key Takeaways:
- 493 billion SHIB tokens moved to exchanges on July 1
- Inflow valued at roughly $2.9 million at current prices
- Token trades near yearly lows after late-June accumulation phase
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Shiba Inu sees 493 billion SHIB flood exchanges as token nears yearly lows
More than 493 billion Shiba Inu tokens moved to cryptocurrency exchanges on July 1, as the meme coin trades near its lowest levels of 2026.
On-chain data from Arkham Intelligence tracked the inflows, which added to exchange supply after a period of whale withdrawals in late June.
The 493 billion SHIB transfer, valued at approximately $2.9 million at current prices, raises the risk of sell-side pressure, according to Arkham data. The inflows were concentrated across multiple platforms, including Revolut, Bithumb and Binance.
The deposit surge threatens to reverse a recent accumulation phase, when large holders withdrew 781 billion SHIB from exchanges between June 25 and June 29, helping the token re-enter the top 30 cryptocurrencies by market cap at $2.48 billion. SHIB has declined more than 15% in June and 38% year-to-date, hitting a five-year low earlier this month.
Exchange reserves for the token now stand at elevated levels, with total SHIB supply on exchanges reaching approximately 86.9 trillion tokens after the latest inflows, according to CryptoQuant data. The increased available supply creates a potential overhang that could suppress any recovery attempt.
The move comes as broader crypto markets face headwinds, with Bitcoin trading lower and altcoins under pressure. SHIB's price action mirrors weakness across the meme coin sector, where several tokens have given up gains from earlier in the year.
Investors are watching whether the exchange inflows translate into actual sell orders or are used by market makers for liquidity provision. A sustained decline in exchange reserves would signal renewed accumulation and support a recovery from yearly lows.
This article is for informational purposes only and does not constitute investment advice.
[1] Half a Trillion Shiba Inu (SHIB) In: What to Expect From Massive Exchange Supply Surge?[2] Shiba Inu whales deposit 4 billion SHIB to exch... | Pluang[3] Shiba Inu (SHIB) Breaks Weekly Threshold With 494 Billion SHIB Exchange Flow in 24 Hours — TradingView News[4] Shiba Inu (SHIB) Surges 3.5% Amid Whale Accumulation[5] Shiba Inu re-enters crypto top 30 as whales withdraw 781B tokens, cutting supply on exchanges.
