Shiba Inu Sees Record-Breaking Exchange Withdrawals Amid Market Sentiment Improvement

Over 1 trillion Shiba Inu (SHIB) tokens were withdrawn from centralized exchanges, signaling a significant shift in investor behavior. This movement indicates that many holders are opting to hold rather than sell their SHIB, especially as market sentiment improves. The net outflow of tokens was around 1 trillion, making it one of the most notable daily shifts in recent weeks.

Despite exchange inflows and outflows remaining high over the past 24 hours, on-chain metrics suggest a conflicting but improving picture. Exchange reserves have slightly increased, yet the number of active addresses is growing, and transaction activity has also risen, indicating increasing investor engagement.

The technical analysis shows that SHIB saw one of its largest volume spikes in months, fueled by a daily trading volume spike to nearly 2 trillion tokens. The asset momentarily contested the 100-day Exponential Moving Average (EMA) near $0.0000050-$0.0000051 before facing selling pressure. However, recovering the medium-term moving averages is a significant improvement over the downward trend that dominated most of July.