SHIB Struggles as Whales Exit Amid Meme Coin Rally

Shiba Inu (SHIB) has underperformed significantly during the recent meme coin rally, with large holders reducing their exposure. Data from IntoTheBlock shows a 150% decline in netflow from whale addresses, indicating heightened selling pressure. This contrasts sharply with the double-digit gains seen in smaller meme tokens. The article delves into the factors behind SHIB's lagging performance and what it could mean for its future trajectory.

SHIB Underperforms Amid Meme Coin Rally as Whales Reduce Exposure

Shiba Inu (SHIB) has notably lagged behind other meme coins during this week's market surge, with large holders significantly reducing their positions. Data from IntoTheBlock reveals a 150% decline in SHIB's netflow from whale addresses—those holding at least 1% of circulating supply—indicating accelerated selling pressure.

The divergence is striking as smaller meme tokens post double-digit gains. Futures traders appear to share whales' skepticism, with SHIB's open interest hitting a 30-day low. Such netflow metrics typically serve as leading indicators: sustained outflows often precede price stagnation or declines when major players exit positions.

Shiba Inu Exchange Supply Drops Toward New Lows, What This Means For Price

Shiba Inu's price surged to $0.00001413, breaking a symmetrical triangle pattern on its daily chart. The rally coincides with a sharp decline in SHIB exchange reserves, dropping from 122.54 trillion to 121.31 trillion tokens between July 31 and August 11.

Glassnode data reveals this 1% reduction in exchange supply signals accumulation by long-term holders. Fewer tokens on centralized platforms like Binance and Coinbase typically diminish selling pressure, creating favorable conditions for bullish momentum. Market dynamics suggest a supply squeeze could amplify upward price movements if demand persists.