Shiba Inu (SHIB) saw a sudden and massive shift in on-chain flows over the past 24 hours. Exchange netflow dropped deeply negative, with approximately 131.95 billion SHIB moved out of trading platforms. During the same window, SHIB’s price declined more than 4%, but instead of panic selling, traders appear to be quietly accumulating tokens at lower prices.
CryptoQuant Data Reveals Sharp Outflow: 131.95 Billion SHIB Withdrawn
According to data from analytics firm CryptoQuant, the combined SHIB balance across monitored exchanges now shows a netflow reading of -131,956,300,000 SHIB, a drop of roughly 3% over the last day. The number implies that far more tokens were withdrawn than deposited. In crypto market parlance, such an imbalance often signals that buyers are moving assets to personal wallets for longer-term holding rather than immediate sale.
The scale of the outflow is particularly striking given SHIB’s recent price weakness. Rather than fleeing, market participants are actively pulling tokens off exchanges—a classic sign of accumulation in a dip.
Dip Buying in Action: Low Prices Trigger Fresh Accumulation
The timing of the outflows aligns with SHIB trading near short-term lows. Many traders appear to view the correction as a chance to accumulate at a discount. The gap between outflows and inflows is wide, suggesting strong buying interest that may have been overlooked amid the broader market slide.
Historically, similar patterns of heavy exchange withdrawals during price declines have preceded eventual rebounds. Reduced exchange supply means less tokens are readily available for sale, which could amplify any future buying pressure. While a immediate price reversal is not guaranteed, the on-chain behavior is a clear signal of changing sentiment.
Derivatives Market Heats Up: Open Interest Tops 10 Trillion SHIB
The accumulation narrative is not limited to spot markets. SHIB’s derivatives market also showed renewed activity. Open interest in SHIB futures rose 2.24% over the past 24 hours, with more than 10.09 trillion SHIB now locked in active derivative contracts. An increase in open interest indicates that traders are adding new positions, betting on directional moves.
Among exchanges, MEXC recorded the strongest surge: its SHIB open interest jumped more than 28% during the same period. This outsized growth suggests a concentrated wave of new positions, either bullish longs or hedging by market makers. Either way, it reflects heightened engagement with the token in the futures market.
Together, the negative spot exchange netflow and rising open interest paint a picture of quiet but determined accumulation. Traders are buying the dip in the spot market while simultaneously building futures exposure. While SHIB’s price still lags, on-chain and derivatives data often lead price action—this divergence deserves close monitoring.