Shiba Inu whales withdrew 443.2 billion tokens from exchanges in four days after the price hit a local bottom of $0.00000415.
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Shiba Inu whales buy 443 billion SHIB dip as exchange supply drains
Shiba Inu whales withdrew 443.2 billion tokens from exchanges in four days after the price hit a local bottom of $0.00000415 on June 25.
The accumulation began immediately after SHIB touched that level, pushing the daily relative strength index to 21.84 — deep in oversold territory, according to CryptoQuant data. In the first 24 hours alone, net exchange outflows reached 158.353 billion SHIB, sharply reducing available market supply.
From June 25 through June 28, cumulative outflows totaled 443.205 billion tokens, with negative netflow bars recorded each consecutive day. Even as the price resumed its gradual slide on June 27, the charts recorded a new wave of limit buying, the data provider showed. Today, SHIB trades in a narrow flat range around $0.0000041, with candle sizes shrinking to signal a temporary pause.
The sustained drain on exchange supply creates conditions for a potential short squeeze. Most volume sits at the $0.00000500 level, and with order books thinning, any strong buying surge could encounter a lack of sellers. However, a quick rebound faces headwinds from systematic profit-taking by one of the oldest SHIB whales, who bought 103 trillion tokens for $13,752 and distributed roughly 3.8 trillion SHIB in June, as well as a daily outflow of $2.38 million from the futures market that has reduced overall volatility.
Shibarium Activity Slows as Holder Count Rises
Shibarium, the layer 2 network for Shiba Inu built on Ethereum, has seen daily transactions decline sharply since peaking on June 17, indicating a broader slowdown in ecosystem activity. Despite the network slowdown, the number of SHIB holders continues to rise, suggesting that accumulation is occurring at the wallet level rather than through on-chain transactional activity.
Supply Squeeze Dynamics
The current dynamics defy standard market logic. Typically, a price decline triggers exchange inflows from panicking retail investors. Instead, free supply is being methodically absorbed by large capital. With exchange order books draining, any sudden buying surge risks running into a complete absence of sellers, which could trigger a rapid short squeeze toward the $0.00000500 level where the bulk of volume sits. The extreme RSI reading of 21.84 suggests strong bearish momentum that may take time to fully reverse, but the supply-side setup is increasingly tilted toward a bounce.
This article is for informational purposes only and does not constitute investment advice.
