Shiba Inu holders pulled an average of 1.02 billion SHIB per withdrawal transaction off exchanges, on-chain data show, even as the token slid to $0.00000416 and closed in on its July low of $0.00000413.
The withdrawal figure, tracked by analytics firm CryptoQuant, points to a pickup in exchange activity among smaller holders. Roughly 86 trillion SHIB still sits on trading platforms, and inbound transfers continue to outnumber outbound ones, so the token movement has not meaningfully dented the supply available for sale.
There is little sign that large wallets or institutional funds are behind the shift. The data point instead to retail users, and some of the transfers may reflect automated market-making rather than deliberate buying. CryptoQuant's figures also leave open whether the coins are being accumulated for the long term or simply moved between wallets.
The activity unfolded against a broad crypto selloff. Bitcoin (BTC) fell below $70,000, triggering about $1.6 billion in liquidations across the market and weighing on altcoins. SHIB's network usage rose over the same 24-hour stretch, with active addresses and transaction counts climbing as volatility picked up.
Note: Withdrawal and exchange-balance figures come from CryptoQuant; price and liquidation data reflect the market at the time of reporting.
Price action offers scant comfort. Trading volumes are extremely thin despite the withdrawal surge, suggesting limited participation, and momentum indicators are not flashing a clear reversal signal. A move under $0.000004 would mark another leg lower, though the token has traded beneath that level before, so a break on its own would not confirm a new direction.
SHIB's path is also tied to the rest of the altcoin complex. The token has shown a looser link to Bitcoin than to assets in the same risk bucket, such as Ethereum (ETH), XRP (XRP) and Stellar (XLM). A sustained rebound in those names, and stronger buying across altcoins generally, would be the more likely route to a SHIB recovery.
For now, the heavy exchange reserves and subdued volume cap the upside case. Traders watching the $0.000004 line will be weighing whether the withdrawals signal durable accumulation or routine wallet housekeeping, a distinction the current data do not settle.
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