Key Highlights
- SHIB climbs to 31st place and is now only $20 million away from returning to the top 30 cryptocurrencies.
- Investors withdrew 62.1 billion SHIB more from exchanges than they deposited, potentially reducing the amount of tokens immediately available for selling.
- SHIB’s price outlook remains mixed, with a break above $0.00000458 potentially supporting further rally.
Shiba Inu is closing in on a return to the top 30 cryptocurrencies after investors pulled 62.1 billion SHIB tokens from centralized exchanges in the past 24 hours.
According to data from CoinMarketCap, the memecoin now ranks as the 31st-largest cryptocurrency in the world. At the time of writing, it is trading for $0.000004253, about 0.78% over the last 24 hours.
Trading activity has also dropped over the same period to around $42.2 million, with its market cap at $2.5 billion. However, it is now only $20 million behind Tether Gold (XAUt), which currently holds the 30th position.
More than two weeks ago, Shiba Inu dropped out of the top 30 as weakness across the wider crypto market pushed its price lower. The decline sent SHIB down to 33rd place on CoinMarketCap. At the time, there were concerns that the token could continue falling and drop below the top 35.
Instead, SHIB has slowly started to recover. The token has now moved from 33rd to 31st place, putting it just one position away from a return to the top 30.
SHIB Records Net Exchange Outfows
A major part of the recent story has been the movement of SHIB tokens on and off exchanges. According to CryptoQuant data, investors withdrew 240.8 billion SHIB from centralized exchanges over the past 24 hours.
At the same time, 176.91 billion SHIB moved into exchanges. When both figures are compared, the result is a negative netflow of 62.1 billion SHIB.
In short, more SHIB left exchanges than entered them. This matters because tokens held on exchanges are generally easier to sell. When investors move their tokens to private wallets, the number of tokens immediately available for trading can fall.
This does not mean every withdrawn token will be held for the long term, but it shows that a large amount of SHIB has moved away from exchanges.
Still, exchanges continue to hold about 86.2 trillion SHIB, which means a huge supply remains available for trading.
The bigger question is whether SHIB can maintain its recovery. While the token has improved its market ranking, its short-term outlook remains mixed.
SHIB’s Recovery Faces Strong Selling Pressure
However, SHIB’s price chart is giving investors another reason to remain careful. Shiba Inu has remained in a prolonged downtrend since it lost the key $0.00000628 support level in May 2026. Since that rejection, the token has continued to form lower highs and lower lows, a pattern that shows sellers have remained in control.
SHIB has also fallen below $0.0000042 and recently traded around $0.00000415, close to the lower end of its recent trading range.
As of now, the price is consolidating between $0.00000458 and $0.00000405, creating a bullish flag pattern in its path that it recently broke through. If the price could continue with good momentum following this break, it could propel SHIB back up above the $0.00000458 level.
If not, price could fall toward the $0.0000032 to $0.0000033 support zone through late July and into August 2026. From around $0.00000415, such a move would represent a decline of roughly 20%.
For now, SHIB is showing signs of recovery in the market ranking and exchange flows, but its price structure remains fragile. The token is close to the top 30, yet it may first need to overcome the pressure from sellers to break its next key level.
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