- 64 billion SHIB have left crypto exchanges today, so far.
- SBI inherited 1.111 trillion SHIB through the Coinhako acquisition.
- Exchange reserves climbed to 86.497 trillion SHIB.
Shiba Inu (SHIB) is navigating two very different stories at the same time.
On one side, the token is gaining more exposure in Asia through a major corporate acquisition involving one of Japan’s largest financial groups.
On the other, fresh on-chain data points to renewed selling pressure as more SHIB moves onto exchanges.
The conflicting signals have left the token under pressure, with buyers struggling to regain momentum despite positive adoption news.
Exchange outflows add pressure to SHIB price
Shiba Inu traded around $0.00000409 after extending its recent decline, reflecting a broader period of weakness across the cryptocurrency market.
The latest on-chain data suggests that exchange activity has become a key factor behind the token’s muted performance.
Data from CryptoQuant showed that 173.45 billion SHIB flowed into cryptocurrency exchanges over the latest 24-hour period, while 271.09 billion SHIB left exchanges.
That resulted in a negative exchange netflow of 97.64 billion SHIB, indicating that more tokens exited trading platforms than entered them.
The latest figures also showed that exchange reserves climbed to 86.497 trillion SHIB, highlighting a larger pool of tokens sitting on trading venues.
During the previous 10-day period, on-chain data showed more than 1.4 trillion SHIB leaving centralised exchanges.
Those outflows had reduced the amount of SHIB immediately available for sale and were viewed as a stronger accumulation signal.
Instead, the latest data points to a reversal in that trend.
Combined with the recent decline in price, the higher exchange balances illustrate the increased selling activity that has weighed on SHIB over recent trading sessions.
Japan expansion strengthens SHIB’s long-term visibility
While on-chain data has turned less favourable in the short term, Shiba Inu has simultaneously received a significant boost in institutional exposure through developments in Japan and Singapore.
SBI Holdings, one of Japan’s largest financial services companies, recently completed its acquisition of Coinhako after receiving approval from the Monetary Authority of Singapore (MAS).
The acquisition also transferred custody of approximately 1.111 trillion SHIB, valued at roughly $4.5 million at the time of the transaction.
The holdings were already part of Coinhako’s customer and exchange reserves, meaning the acquisition did not represent a fresh purchase of SHIB from the open market.
Coinhako manages a digital asset portfolio worth more than $164 million, with SHIB ranking among its larger cryptocurrency holdings.
Following the acquisition, SBI expanded its footprint in Southeast Asia while adding another regulated platform that offers SHIB trading against both the Singapore dollar (SGD) and the US dollar (USD).
The transaction adds to Shiba Inu’s growing presence within regulated Asian cryptocurrency markets.
However, the increased visibility has yet to translate into stronger price performance as traders continue to focus on short-term market activity.
Credit: Source link
