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Shiba Inu (SHIB) token has successfully returned to the top 30 strongest cryptocurrencies in the world, pushing out competitors thanks to coordinated buying by large-capital investors. Despite the heavy downtrend during the last week of June, whales managed to fully stop the panic selling and moved the market into a phase of quiet accumulation.
At the moment, SHIB has reclaimed the 30th spot in CoinMarketCap's ranking with a market capitalization of $2.48 billion, matching its main pursuer, Cronos (CRO), and successfully overtaking Tether's tokenized gold, XAUt.
Exchange outflows halt panic selling of SHIB
The main trend reversal is now happening not on the price chart, but in on-chain metrics. Fresh data from the analytics platform CryptoQuant reveals the internal mechanics of this comeback. After June 23, when exchange inflows sharply increased by 751.64 billion SHIB and dragged prices lower, large buyers completely seized the initiative.
Key milestones on the way back to the top 30:
- -781.227 billion SHIB: the net outflow of tokens from exchanges to private wallets recorded in just four days, from June 25 to June 29.
- Falling reserves: total exchange reserves of the Shiba Inu coin dropped from a peak of 87.96 trillion to 87.18 trillion tokens, fully absorbing the recent seller overhang.
The withdrawal of billions of tokens into cold storage did not trigger an instant explosive rally, but it fulfilled its strategic task: it completely blocked the decline and secured the minimal percentage gains needed to return to the top 30.
Large players placed a dense limit wall at the $0.00000414 level, stopping the token's decline, which stood at -10.27% for the week, and allowing it to regain lost positions in the ranking due to the weakening and drawdown of other altcoins.
Meanwhile, SHIB's price remains tightly trapped in a narrow horizontal range between support at $0.00000414 and local resistance around $0.00000430. Since internal network drivers are absent, the further fate of this sideways structure fully depends on broader market sentiment and the inflow of speculative retail volume, which remains modest at $59.93 million.
Nevertheless, whales are already creating a supply deficit on exchanges, preparing the ground for a strong impulse at the slightest positive signal from Bitcoin.
U.Today Editorial Team
Dan Burgin
