Shiba Inu (SHIB) continues to trade in the red amid broader market volatility, but on-chain data indicates a significant shift in exchange activity that could herald a price recovery. According to CryptoQuant, the 24-hour netflow for SHIB on exchanges stood at -28,304,500,000 tokens as of June 20, 2026. This massive negative value means that over 28 billion more SHIB were withdrawn from exchanges than deposited, signaling that buying demand is overwhelming selling pressure.
Such exchange outflows often suggest that investors are moving tokens to cold storage or personal wallets with an intent to hold rather than sell, reducing the immediate available supply on trading platforms. Combined with the fact that the broader market is showing signs of a potential bounce — with modest gains in Bitcoin and XRP — analysts believe this netflow flip could precede a bullish reversal for SHIB, even though its price currently sits at $0.000004710, down 1.28% in the last 24 hours.
While the immediate price action remains negative, the substantial reduction in sell-side liquidity, if sustained, may provide the foundation for a recovery in the near term. The market will be watching closely whether this renewed buyer conviction translates into upward momentum for the meme token.
