Shiba Inu Records Large Exchange Inflow

Shiba Inu (SHIB) began April 2026 with a 1.6% price increase, despite a notable anomaly: a substantial 494.8 billion SHIB exchange inflow over the past 24 hours. This inflow is currently valued at approximately $3 million based on current market prices.

Source of the Inflow

Revolut Leads the Way

The majority of the inflow originated from Revolut, a financial service that allows users to trade cryptocurrencies, including SHIB. Revolut accounted for a significant portion of the movement.

Binance and Bithumb Contribute

Further contributions came from major cryptocurrency exchanges Binance and Bithumb. Each exchange demonstrated average inflows of around $1.5 million worth of SHIB tokens.

Outflow Dynamics

Coinbase Prime Withdrawals

Outflows were primarily driven by withdrawals from Coinbase Prime custody. The amount withdrawn from Coinbase Prime was nearly equivalent to the inflow recorded on Revolut, differing by only one billion SHIB.

Bitstamp Also Sees Withdrawals

Bitstamp was another platform from which Shiba Inu tokens were withdrawn during this period.

April's Historical Performance & Current Outlook

Historically Moderate Gains

This activity coincides with the start of April, a month historically considered moderately positive for the meme coin. CryptoRank data indicates an average return of 3.83% for SHIB in April, although the median return remains negative at -2.4%.

Past April Performance

The most successful April for SHIB was in 2021, with a 69.4% increase. However, the token experienced declines of 22% and 26.9% in April 2022 and 2024, respectively.

Clash of Factors

Currently, SHIB faces conflicting forces: a large increase in exchange supply (494 billion SHIB) and the historically positive seasonality of early April. Future price movements will depend on whether this volume is sold or used to provide liquidity.

Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Always conduct thorough research and consult with financial experts before making investment decisions.