Large holders of Shiba Inu (SHIB) have been systematically moving tokens off exchanges for a record eight consecutive days since July 3, according to CryptoQuant. The net flow of SHIB on trading platforms has remained negative, with a net deficit of 95.35 billion SHIB leaving exchanges in just the past 24 hours. This exodus suggests that so-called smart money, which controls up to 94.5% of the token's supply, is reducing selling pressure and moving tokens into long-term storage.
Massive Outflows Outpace Inflows
Over the last 24 hours, 226.3 billion SHIB left exchange accounts for private addresses, while only about 131 billion SHIB was deposited on trading platforms for potential sale. This resulted in a net outflow of 95.35 billion SHIB in a single day. Total SHIB holdings on centralized exchanges have fallen to 86.69 trillion tokens, near the bottom of recent levels. The meme coin's price has stabilized near $0.00000438, gaining approximately 4.12% since the start of July but remaining trapped in a narrow range after losing 24% in June.
Transfer Activity Slows but Reserves Keep Falling
The seven-day average number of SHIB deposits to exchanges fell by 69%, while withdrawals declined by 78%, indicating a significant drop in large-transfer activity compared with the previous week. Despite the lower number of transactions, the negative netflow shows that exchange reserves continue to shrink. However, not all withdrawals are necessarily accumulation-related; some may involve funds being redistributed between custodial wallets, internal exchange operations, or changes in storage structure.
Implications for SHIB Price
A decline in exchange supply could reduce potential selling pressure, and if demand rises, the smaller amount of available tokens may amplify price responses to new buying activity. However, the eight-day outflow streak does not yet confirm a new uptrend. Trading activity and the number of large transfers are declining alongside exchange reserves, meaning the market will need stronger spot volume to break out of the current consolidation range. In the coming days, key indicators for SHIB will be exchange reserves, daily netflow, and trading volume. Continued withdrawals combined with stronger buying activity would provide more reliable confirmation of a shift in market balance than negative netflow alone.