Shiba Inu returned to the top 30 by market value after 781.227 billion SHIB moved off exchanges. The sharper signal came from on-chain flows rather than price action. CryptoQuant said 751.64 billion SHIB flowed into exchanges on June 23, adding notable pressure to the token, but that move was reversed over the following days.
Exchange balances dropped as SHIB moved to private wallets
From June 25 to June 29, SHIB recorded a net outflow of 781.227 billion tokens from exchanges into private wallets. That reduced the amount of supply readily available for trading and eased active sell pressure in the market. Over the same stretch, total SHIB reserves on exchanges fell from 87.96 trillion to 87.18 trillion tokens, offsetting much of the supply overhang that had built up during the recent sell-off.
The report said the withdrawal wave did not trigger an immediate price spike. It did, however, stop the decline and help create conditions for SHIB’s return to the top 30. Relative ranking also benefited as some rival altcoins weakened during the same period.
Price remains trapped between support and resistance
Large investors built a buy wall near $0.00000414, preventing losses from extending beyond the weekly decline. The reported weekly change stood at -10.27%. On the upside, local resistance was identified around $0.00000430, leaving SHIB confined to a tight range with no confirmed breakout.
That matters because shrinking exchange supply has not yet turned into a directional price move. The article noted no clear network catalyst at this stage, so SHIB’s next move appears tied more closely to broader market sentiment than to a token-specific trigger.
Retail trading volume stays limited
Retail-led speculative activity also remains light. Reported retail volume was only $59.93 million, a level seen as limiting the chance of a strong short-term breakout. Observers cited in the piece said the removal of supply from exchanges by large wallets has laid the groundwork for a stronger reaction if Bitcoin turns constructive.
For now, SHIB has regained a place in the top 30, but price is still moving sideways. Traders are watching whether exchange reserves keep falling and whether risk appetite across the wider crypto market improves enough to push the token out of its current band.