Despite Shiba Inu’s recent price weakness, investors have resumed accumulating the token, withdrawing more than 300 billion $SHIB from exchanges over the past 24 hours.
Notably, Shiba Inu’s exchange reserve have retreated from recent highs, signaling renewed accumulation activity. The metric, which tracks the amount of $SHIB held in exchange wallets, fell from approximately 80.5 trillion tokens to 80.37 trillion in less than 48 hours.
Recent Exchange Inflows Interrupted a Multi-Week Trend
Before this week’s developments, Shiba Inu’s exchange reserves had been declining steadily for several weeks and had even fallen below the 80 trillion $SHIB mark.
However, the trend briefly reversed earlier this week when investors transferred large amounts of $SHIB to exchanges, according to data from CryptoQuant. Approximately 749 billion $SHIB flowed into trading platforms, pushing exchange reserves to 80.53 trillion on June 23 and further to 80.55 trillion the following day.
Investors Return to Accumulation
Contrary to expectations, exchange reserves failed to rise further as $SHIB’s price plunged. Instead, they resumed their decline, dropping to 80.37 trillion tokens by press time.
The reversal suggests that many investors have returned to accumulation despite the broader market downturn. In particular, some holders appear to view current price levels as an opportunity to increase exposure rather than reduce positions.
Negative Netflows Strengthen the Bullish Accumulation Case
Exchange netflow data further reinforces the accumulation narrative. The metric, which measures the difference between exchange inflows and outflows, has turned negative and currently stands at -355.54 billion $SHIB, representing a 2.12% decline in exchange balances over the past 24 hours.
Although inflows surged to 442.21 billion $SHIB during the period, outflows significantly exceeded that figure and reached 797.76 billion tokens. As a result, exchanges recorded a net outflow of more than 355 billion $SHIB, highlighting continued investor accumulation despite the recent correction.
Liquidation Wipes Out Over $200K Shiba Inu Leveraged Bets
The latest accumulation trend emerged as Shiba Inu experienced another sharp decline that briefly pushed the token to around $0.0000040 earlier today. $SHIB later recovered part of its losses and rebounded to approximately $0.0000042.
Nonetheless, the sell-off inflicted heavy losses on leveraged traders. According to liquidation data from CoinGlass, $SHIB derivatives traders lost approximately $210,820 over the past 24 hours.
Long traders absorbed the overwhelming majority of the losses, with liquidations approaching $194,000. Meanwhile, short traders recorded comparatively smaller losses totaling about $16,870.
