39 Billion SHIB: Shiba Inu’s Woes Are Far From Over As Sell-Offs Continue

Shiba Inu is facing renewed selling pressure as SHIB’s exchange netflows indicate that more holders are moving their coins to exchanges. This comes as the U.S.-Iran war continues to spark bearish sentiment for the foremost meme coin and the broader crypto market. 

Shiba Inu’s Exchange Netflows Turn Positive As SHIB Faces Sell-off

CryptoQuant data shows that Shiba Inu’s exchange netflows have turned positive, with a difference of around 39 billion SHIB. This indicates that the meme coin is facing increased selling pressure, as exchange inflows are currently well ahead of outflows. This development also coincides with the SHIB price decline, with the meme coin down 5% in the last week. 

Santiment data also shows the massive gap between Shiba Inu’s exchange inflows and outflows, further confirming the sell pressure that the meme coin is currently facing. As of March 28, Shiba Inu’s exchange inflow is 69.2 billion, while the outflow is 30.74 billion. Another negative is that SHIB whales are currently sitting on the sidelines and choosing not to accumulate the meme coin. 

Related Reading: Can Shiba Inu Still Make A Comeback? Lack Of Update On Shibarium L3 Proves To Be A Problem

Further data from Santiment shows that daily Shiba Inu whale transactions are currently in the single digits and effectively non-existent, down from an average of over 100 transactions recorded in December 2025. However, a positive for SHIB is that its supply on exchanges hasn’t climbed to the highs seen in September 2025. The current supply on exchanges is 138 trillion, still below the September high of 143 trillion. 

Meanwhile, although Shiba Inu whales are choosing not to accumulate and remain on the sidelines, the supply held by these cohorts remains steady, indicating there has yet to be a massive sell-off. These whales currently hold 774.25 trillion SHIB, above the recent low of 690.91 trillion SHIB.  

Shibarium Transactions Waver

Shibariumscan data shows that daily transactions on the layer-2 network remain volatile, with brief surges followed by new lows. The daily Shibarium transactions notably climbed from 3,430 on March 25 to a one-month high of around 10,940 on March 26. However, daily transactions quickly fell to a low of 1,230 on March 27. 

Meanwhile, it is worth noting that a significant number of these Shibarium transactions over the last few days have been zero-dollar contract call transactions, signaling a lack of utility for the layer-2 network at the moment. Shiba Inu burns have also crashed as a result of the decline in daily transactions on Shibarium. Shibburn data shows that Shiba Inu burns in the last 24 hours have crashed by 66%, dropping to 2.7 million SHIB. 

At the time of writing, the Shiba Inu price is trading at around $0.000005737, down over 3%, according to data from CoinMarketCap.