Top Shiba Inu Whales Slow Deposits to 2B SHIB in 24 Hours

Top Shiba InuSHIB+1.04% Whales Ease Up on Exchange Deposits

On November 8, 2026, crypto analyst Arman Shirinyan highlighted a noticeable change in behavior among the largest Shiba Inu (SHIB) holders. According to recent data from blockchain analytics platform CryptoQuant, the top 10 Shiba Inu wallets sent approximately 2 billion SHIB tokens to exchanges over a 24-hour period.

To be precise, these major whale wallets transferred 2.281 billion SHIB to centralized exchanges. At the time of the transactions, the tokens were valued at around $0.00000446 each.

Why do traders watch these whale deposits so closely? Think of crypto exchanges like retail store display shelves. When big investors move massive amounts of tokens onto an exchange, it often suggests they might be getting ready to sell. However, when large deposits slow down to just 2 billion tokens, it hints that whales are not actively rushing to offload their holdings right now.

Exchange Reserves Shrink as Withdrawals Continue

While whale deposits remained relatively quiet, other investors were busy moving tokens in the opposite direction. CryptoQuant data revealed that users withdrew 3.4772 billion SHIB from exchanges during the same 24-hour window.

When investors pull tokens off exchanges and move them into private storage, it generally indicates a desire to hold for the longer term rather than trade immediately.

Taking a look at overall balances, total Shiba Inu exchange reserves currently stand at 86.1617 trillion SHIB. In fiat terms, those combined exchange reserves are worth roughly $384.28 million.

• Total SHIB Exchange Reserves: 86.1617 trillion tokens ($384.28 million total value)
• Token Reserve Change: Decreased by 0.02% over the last 24 hours
• Reserve USD Value Change: Slipped by 0.47% due to broader market fluctuations

Understanding SHIB Net Flows: Why Negative Numbers Matter

To get the full picture of token movements, market analysts track net flow. Net flow simply measures the difference between crypto entering exchanges and crypto leaving them.

Over the past 24 hours, Shiba Inu recorded a negative net flow of 20.0745 billion SHIB across all major trading platforms. A negative net flow means that total withdrawals significantly outpaced total deposits.

Generally speaking, heavy exchange inflows can create short-term selling pressure. Conversely, consistent negative net flows mean that exchange inventory is shrinking, which can help lessen immediate sell pressure across the market.

Key SHIB Price Levels and Technical Scenario Analysis

Despite tokens leaving exchanges, the price of Shiba Inu has faced headwinds following a brief market rally in early November. TradingView chart data shows that SHIB recently broke below a key support level at $0.00000480.

Shiba Inu is currently trading around $0.00000447, moving sideways near its local bottom. Buyers appear to be defending an immediate local support zone between $0.00000440 and $0.00000442.

Technical analysts outline two primary potential scenarios for SHIB depending on how market conditions evolve:

• Bullish Recovery Scenario: If overall market sentiment improves and SHIB reclaims resistance at $0.00000480, it could open the door for a recovery toward the $0.00000540–$0.00000550 zone previously tested in October.
• Bearish Downside Scenario: If local support between $0.00000440 and $0.00000442 fails to hold, analysts warn the price could experience further decline toward the $0.00000410 level.

Note: Past performance of digital assets is not a reliable indicator of future results. Crypto assets are subject to high market volatility.

Other Top News Across the Crypto Space

The broader cryptocurrency market saw several other key developments reported on November 8, 2026:

• Tornado Cash Whale Activity: Journalist Gamza Khanzadaev reported at 11:41 AM that a Tornado Cash whale deposited $7 million into HyperliquidHYPE-0.54% to open a large BitcoinBTC+0.21% long position.
• XRP Ledger Lending Fix: Arman Shirinyan reported at 10:10 AM that RippleXRP+0.23%'s XRP Ledger lending protocol is set to receive a repayment fix to improve system performance.
• Ripple Executive Commentary: Ripple's David Schwartz publicly addressed questions regarding his influence over XRP pricing following a severe market downturn for the token.
• Market Volatility: Hyperliquid (HYPE) traders are preparing for increased price swings, while StellarXLM-0.49% continues to encounter persistent downward pressure.