.png){kind=logo}
Shiba Inu (SHIB) traded in a tight band near $0.0000064 as a large share of tokens left centralized exchanges. NetFlow trackers estimate that about 140 billion SHIB moved off exchanges over three days, a scale that can reduce immediate sell supply.
The outflows arrived during a broader downtrend for the meme coin. Market pricing and derivatives metrics still show muted risk appetite, even as spot buyers defended the $0.000006 area.
Exchange netflow data turned sharply negative over the three-day window. This signal means more tokens exited trading venues than entered them. Reports that aggregated these flows put the total near 140 billion SHIB.
Holders often withdraw tokens for self-custody, staking, or DeFi use. Those moves shift coins from exchange hot wallets into private wallets or on-chain contracts. They also reduce the amount available for fast selling.
Outflows do not guarantee a rally. A holder can still sell after moving tokens, and new exchange deposits can quickly rebuild supply. Traders, therefore, watch whether withdrawals continue and whether spot demand rises alongside them.
Price feeds show SHIB around $0.0000065 on February 14, with a market capitalization near $3.85 billion and a circulating supply near 589 trillion tokens.
The token dropped from a short consolidation zone and printed new local lows. After that move, SHIB held a narrow range above $0.000006. Observers noted heavy volume during the sell-off, followed by cooling volume as the price steadied.
Longer-term context remains challenging. One market recap tracked SHIB sliding from about $0.00004565 in March 2024 to near $0.0000060. The drop reflects sustained weakness across meme coins and altcoins.
Technicals still lean bearish because SHIB trades below major moving averages. Those averages often act as resistance during rebounds. A trend shift would require higher highs and stronger closes above key levels.
Derivatives data show reduced participation. CoinGlass lists SHIB open interest around $61million - $73 million. Market coverage also cited CoinGlass data and placed mid-2024 open interest above $400 million.
The CME Group defines open interest as “the total number of futures contracts held by market participants at the end of the trading day.” Lower open interest can signal traders closing positions and trimming leverage during uncertain trends.
Funding indicators also remain cautious. Analysts reported that SHIB’s weighted funding rate has stayed negative since February 5. This setup can indicate a stronger demand for short exposure in perpetual futures markets.
Supply reduction through burns has not offered consistent support. Shibburn logs showed just 483 SHIB sent to burn addresses in one 24-hour period. The next day, burners sent 838,872 SHIB, which produced a large percentage jump from a low base.
On-chain usage looks limited as well. DefiLlama lists Shibarium's total value locked at nearly $850,000, suggesting modest capital is committed to its DeFi apps. The project has a privacy upgrade scheduled for Q2 2026, but TVL has not yet turned higher.
Also Today: Shiba Inu at Critical Lows: Smart Money Buying or More Pain Ahead?
