Shiba Inu (SHIB) Outflows Spike Violently as Traders Rush to Self-Custody
On-chain metrics show a sharp increase in exchange outflows, suggesting that large holders may be aggressively removing tokens from trading platforms, even as SHIB price action continues to drift lower inside a larger downtrend. Shiba Inu exchange flows flip According to data from CryptoQuants trending metrics, SHIB exchange outflows have increased significantly, with a total outflow volume of almost 490 billion SHIB. Concurrently, exchange reserves keep dropping, indicating that tokens are gradually moving away from centralized platforms rather than getting ready for an instant sale. SHIB/USDT Chart by TradingView This is significant because self-custody behavior is typically indicated by exchange outflows. Short-term selling pressure is usually lessened when traders transfer assets from exchanges to private wallets. The reasoning is straightforward: coins transferred into cold wallets or decentralized storage typically stay dormant for a longer period of time, whereas coins on exchanges are liquid and ready to be dumped. Bitcoin (BTC), Hyperliquid (HYPE), Zcash (ZEC), Dogecoin (DOGE) and Ethereum (ETH) Price Analysis for May 23: Fundamental Shift in Investors Sentiment Fidelity: Bitcoin in Early Bull Market The timing is noteworthy since SHIBs chart appears to be in poor shape. After repeatedly failing to recover resistance near the 200-day moving average, SHIB recently broke out of a rising wedge