Shiba Inu records 450 billion outflow as futures flows drop 144%

Shiba Inu recorded 110 billion SHIB in net exchange outflows on June 4 as 24-hour futures flows dropped 144%, with traders exiting both spot and leveraged positions as bearish pressure intensified.

Coinglass data shows futures net outflows reached about $2.38 million over the past 24 hours, with the net change falling more than 140%. Open interest declined 6% to $49.4 million, while futures trading volume slipped 0.88% to $78.6 million, reflecting reduced participation in derivative markets.

Exchange flow data shows a similar trend on the spot side. SHIB recorded roughly 457 billion tokens in exchange outflows against 347 billion in inflows, producing a net outflow of about 110 billion SHIB. Spot net flows remained negative across multiple time frames, with about $826,000 leaving spot markets over the past day and more than $2.2 million over the preceding three days. Exchange reserves rose above 80.25 trillion SHIB, reversing part of the long-term decline that holders had viewed as a favorable supply-side trend.

The technical picture remains difficult. SHIB traded at $0.00000553, down 8% over the past 24 hours, after breaking below the lower boundary of a multi-month consolidation structure. The token is trading below its 50-, 100-, and 200-day moving averages, with the Relative Strength Index near oversold territory at 24. The critical support zone around $0.0000054 has held so far, but repeated testing increases the risk of a breakdown. Extreme pessimism has historically enabled sharp countertrend rallies, but the combination of declining price action, negative futures flows, and elevated exchange reserves suggests sellers remain in control for now.

This article is for informational purposes only and does not constitute investment advice.