Latest on-chain data shows significant movement of billions of Shiba Inu ($SHIB) tokens across centralized exchanges has garnered increased attention from market observers.
Blockchain analytics platform Arcam Intelligence reported 4.8 billion. $SHIB The amount that has flowed into the exchange in the past 24 hours is worth about $27,000 at current prices.
The transfer took place on the first day of April, a month that has historically brought mixed but sometimes positive performance for the meme.coin.
Notably, several companies including Revolut, Binance, and Bithumb contributed nearly 5 billion in net flows. $SHIB Send your tokens to the exchange.
Important points
- More than 4 billion Shiba Inu tokens have moved to exchanges in the past 24 hours.
- Revolut, Binance, and Bitstamp led the Shiba Inu influx, with billions of tokens migrating to these platforms.
- Revolut has generated billions of dollars in revenue, alongside Bithumb and Robinhood. $SHIB Leave your wallet behind.
- According to historical data from CryptoQuant, the average value of Shiba Inu rose by 3.16% in April.
Daily inflows of top Shiba Inu on Revolut and Binance
Revolut accounted for the lion’s share of these movements over the past day. One of the platform’s wallets received approximately $849.21 billion $SHIB During the period. However, Arcam data shows that this transfer was likely made internally, as the tokens originated from another wallet controlled by Revolut.
Meanwhile, Binance and Bitstamp followed with inflows of 177.05 billion and 163.64 billion. $SHIBrespectively. Other exchanges such as Wintermute, Bybit, and OKX also recorded significant inflows during the same period.
$SHIB spill
Revolut also led in the following outflow metrics: $SHIB within the same time frame. The platform drained approximately $849 billion. $SHIB From one of your wallets.
Several other exchanges also recorded significant withdrawals. Bitstamp is 194.39 billion $SHIB Binance records 129.48 billion while leaving wallet $SHIB Outflowing.
Similarly, Bithumb and Robinhood recorded withdrawals of 70.75 billion and 69.51 billion. $SHIBrespectively. Other platforms such as Kraken, OKX, Crypto.com, and Wintermute also generated billions of posts. $SHIB Outflowing.
As a result of these repeated remittances, the net inflow was approximately $4.8 billion. $SHIBThis means that a small portion of the tokens ended up increasing the exchange balance after the change.
Shiba Inu April performance
This activity occurred on April 1st, a month that has historically had mixed results. $SHIB. So far, the month has started on a negative note. Memecoin has already fallen 2.12%, below $0.000006.
However, CryptoRank’s historical data suggests that: $SHIB The median performance remains negative at 4.26%, but the average return for April is still around 3.16%.
April 2021 remains the strongest month for the token; $SHIB A sharp increase of 69.4%. In contrast, the asset recorded declines of 22%, 6.41%, and 26.9% from 2022 to 2024, but recovered last year with a gain of 6.92%.
The month started with a small loss, but it’s still too early to tell $SHIBThe trajectory of April. At the time of writing, $SHIB It is trading around $0.000005802, down 2.27% in the past 24 hours.
