Traders pulled over 204 billion SHIB tokens off exchanges in a single day, a 3.6% jump from the day before, even as demand for Shiba Inu futures contracts slid sharply.
Futures Flow Turns NegativeOpen interest, which tracks the total value of active futures positions, fell 6% to over $49 million over the same period. The 24-hour futures trading volume also slipped 0.88% to $78.6 million as activity across the derivatives market stayed thin.
The pullback in futures demand tracks with SHIB’s price behavior over the past four days, during which the token has barely budged. The coin hasn’t moved more than 2% in either direction, leaving derivative traders with little reason to stay in.
Quiet Price, Slow MomentumWhen a token sits still, futures traders tend to leave. They need volatility to make money on leveraged positions, and SHIB hasn’t been delivering that.
While the derivatives side weakened, spot activity told a different story. Spot trading volume climbed 18% in 24 hours to nearly $12 million, and exchange reserves dropped 0.25% to 80.32 trillion SHIB.
The exchange netflow remained negative, meaning more tokens left platforms than arrived. That kind of sustained outflow is often read as holders moving assets into self-custody rather than preparing to sell.
Some analysts have pointed to this pattern as a sign the recent downward pressure on prices may be running out of steam.
Featured image from Unsplash, chart from TradingView
