New weekly data from the Shibarium network indicates significant on-chain activity for Shiba Inu (SHIB), countering prevailing negative market sentiment. The report details substantial token outflows from exchanges, ongoing whale accumulation, and a growing holder base, suggesting reduced immediate selling pressure and strengthening fundamentals for the meme cryptocurrency.
Recent data from the Shibarium network covering April 9 to April 16 presents a bullish case for Shiba Inu. The statistics show a net outflow of approximately 1.24 trillion SHIB from centralized exchanges, reducing total exchange reserves to about 80.9 trillion tokens.
“Total SHIB reserves held on exchanges declined to approximately 80.9 trillion, compared to around 166 trillion in 2024,” the report stated. This movement of tokens off trading platforms is typically viewed as a reduction in available sell-side pressure.
Concurrently, large wallet addresses have been actively accumulating SHIB. Since the start of April, whales have purchased roughly 2.02 trillion SHIB, valued at approximately $12.16 million according to the data.
“A significant portion of this accumulation occurred within the last 72 hours,” the report noted. The top ten wallets now collectively control 62.65% of the total SHIB supply, a figure which includes the permanently inaccessible burn address holding about 410.4 trillion SHIB.
Network growth metrics are also positive. The total number of SHIB holder addresses has surpassed 1.56 million, expanding at a rate of around 300 new addresses per day.
“Approximately 78 percent of holders have maintained their positions for more than one year,” the data reveals. At a recent price point, about 62% of these addresses were in a profitable position.
The token’s burn mechanism remains active, destroying a notable 15.5 million SHIB on April 11 alone. These combined metrics from the network’s official channels suggest sustained development within the Shiba Inu ecosystem despite broader market chatter.
