Bearish
Shiba Inu (SHIB) price drops 15.24% amid massive exchange inflows and declining Shibarium TVL.
Over the past 24 hours, Shiba Inu (SHIB) experienced a significant price decline of 15.24%, falling to approximately $0.00000509. This downturn is attributed to substantial inflows of SHIB tokens into exchanges, indicating increased selling pressure. Additionally, the total value locked (TVL) on Shibarium, SHIB's Layer-2 chain, plummeted by 74% over two days, reflecting reduced decentralized finance (DeFi) activity.
Key points
- Massive Exchange Inflows: Approximately 145.9 billion SHIB tokens were moved to exchanges on August 29, signaling potential selling pressure.
- Declining Shibarium TVL: Shibarium's TVL dropped by 74% over 48 hours, indicating reduced DeFi activity on the platform.
- Institutional Approval in Japan: Laser Digital Japan, backed by Nomura, received approval to list SHIB for institutional trading, enhancing SHIB's legitimacy.
- Technical Indicators: A rising wedge pattern suggests potential bearish momentum, with key support at $0.00000520.
Sources
- Shiba Inu Faces Sharp Sell-Off as Massive Token Inflows Hit ExchangesInteractiveCrypto · August 30, 2026
- Shiba Inu Slips Below $0.0000053 as Exchange Inflows Climb and Shibarium TVL Drops 74%WalletInvestor.com · August 29, 2026
- Latest Shiba Inu News - (SHIB) Future Outlook, Trends & Market InsightsCoinMarketCap · August 30, 2026
- SHIB Price Signals Weakness As Rising Wedge Puts $0.00000520 In FocusTronWeekly · August 29, 2026
AI-generated from public news sources. Not financial advice.
