Shiba Inu Logs 4.8B Exchange Inflows in 24 Hours as April Opens with 2% Decline

Fresh on-chain data shows significant movement of billions of Shiba Inu (SHIB) tokens across centralized exchanges, drawing increased attention from market observers.

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Blockchain analytics platform Arkham Intelligence reported that 4.8 billion SHIB flowed into exchanges in the past 24 hours, worth roughly $27,000 at current prices.

The transfers occurred on the first days of April, a month that historically delivers mixed but occasionally positive performance for the memecoin.

Notably, several entities, including Revolut, Binance, and Bithumb, contributed to the net flow of nearly 5 billion SHIB tokens into exchanges.

Key Points 

• More than 4 billion Shiba Inu tokens moved into exchanges over the past 24 hours. 
• Revolut, Binance, and Bitstamp led Shiba Inu inflows, with billions of tokens shifted to these platforms. 
• Revolut, alongside Bithumb and Robinhood, also saw billions of SHIB leave their wallets. 
• Historical data from CryptoQuant shows Shiba Inu averages 3.16% gains in April. 

Revolut and Binance Top Shiba Inu Daily Inflows 

Revolut accounted for the largest share of these movements over the past day. One of the platform’s wallets received about 849.21 billion SHIB during the period. However, Arkham’s data indicates that the transfer was likely internal, as the tokens originated from another Revolut-controlled wallet. 

Meanwhile, Binance and Bitstamp followed with inflows of 177.05 billion and 163.64 billion SHIB, respectively. Other exchanges, including Wintermute, Bybit, and OKX, also recorded notable inflows during the same period. 

SHIB Outflows 

Revolut also led the outflow metrics for SHIB within the same timeframe. The platform moved out roughly 849 billion SHIB from one of its wallets.

Several other exchanges also recorded significant withdrawals. Bitstamp saw 194.39 billion SHIB leave its wallets, while Binance recorded 129.48 billion SHIB in outflows.

Similarly, Bithumb and Robinhood registered withdrawals of 70.75 billion and 69.51 billion SHIB, respectively. Additional platforms, including Kraken, OKX, Crypto.com, and Wintermute, also posted billions of SHIB in outflows. 

Following these back-and-forth transfers, net inflows totaled about 4.8 billion SHIB, meaning that a small portion of the tokens ultimately increased exchange balances after the movements.

Shiba Inu April Performance 

The activity occurred on April 1, a month that historically produced mixed results for SHIB. So far, the month has started on a negative note. The memecoin has already dropped 2.12%, slipping below $0.000006.

However, historical data from CryptoRank suggests that SHIB still posts an average April return of around 3.16%, even though the median performance remains negative at 4.26%.

April 2021 remains the token’s strongest month, with SHIB surging 69.4%. In contrast, the asset recorded declines of 22%, 6.41%, and 26.9% between 2022 and 2024, before rebounding with a 6.92% gain last year. 

Although the month has begun with modest losses, it remains too early to determine SHIB’s full April trajectory. At the time of writing, SHIB trades around $0.000005802, down 2.27% over the past 24 hours.