- 64 billion SHIB have left cryptocurrency exchanges today so far.
- SBI inherited 1.111 trillion SHIB through its acquisition of Coinhako.
- Foreign exchange reserves rose to 86.497 trillion shekels.
The Shiba Inu (SHIB) navigates two very different stories at the same time.
On the one hand, the currency is gaining more exposure in Asia through a major corporate takeover involving one of Japan’s largest financial groups.
On the other hand, new on-chain data points to renewed selling pressure as more SHIB moves to exchanges.
Mixed signals have left the token under pressure, with buyers struggling to regain momentum despite positive adoption news.
Exchange outflows add pressure on the SHIB price
The Shiba Inu coin was trading at around $0.00000409 after extending its recent decline, reflecting a broader period of weakness across the cryptocurrency market.
The latest on-chain data indicates that exchange activity has become a major factor behind the token’s muted performance.
Data from CryptoQuant showed that 173.45 billion SHIB flowed into cryptocurrency exchanges during the last 24-hour period, while 271.09 billion SHIB left the exchanges.
This resulted in a negative net exchange inflow of 97.64 billion SHIB, indicating that more tokens exited the exchanges than entered them.
The latest figures also showed that exchange reserves rose to 86.497 trillion SHIB, highlighting the wider pool of tokens on trading venues.
During the previous 10-day period, on-chain data showed that more than 1.4 trillion SHIB left central exchanges.
These outflows immediately reduced the amount of SHIB available for sale and were seen as a stronger accumulation signal.
Instead, the latest data points to a reversal in this trend.
Along with the recent decline in prices, the rise in exchange balances demonstrates the increased selling activity that has affected SHIB during recent trading sessions.
Expansion into Japan reinforces SHIB’s long-term vision
While on-chain data has become less favorable in the short term, the Shiba Inu has at the same time received a significant boost in institutional exposure through developments in Japan and Singapore.
SBI Holdings, one of the largest financial services companies in Japan, It recently completed its acquisition of Coinhako After obtaining the approval of the Monetary Authority of Singapore (MAS).
The acquisition also transferred custody of approximately 1.111 trillion SHIB, valued at approximately US$4.5 million at the time of the transaction.
The holdings were already part of Coinhako’s and the exchange’s client reserves, meaning the acquisition does not represent a new purchase of SHIB from the open market.
Coinhako manages a digital asset portfolio worth over $164 million, with SHIB ranking among its largest cryptocurrency holdings.
Following the acquisition, SBI expanded its presence in Southeast Asia with the addition of another regulated platform offering SHIB trading against both the Singapore Dollar (SGD) and the US Dollar (USD).
This deal adds to the Shiba Inu’s growing presence in regulated Asian cryptocurrency markets.
However, the increased visibility has yet to translate into stronger price performance as traders continue to focus on short-term market activity.
