SHIB Exchange Inflows Surge in April, Net +4.8B as Price Slips
Arkham Intelligence data shows SHIB exchange inflows surged at the start of April. In the first 24 hours, SHIB net inflow reached about 4.8B tokens (around $27,000 at the time), even as SHIB price slipped roughly 2% to open the month.
Gross movements were much larger and two-way. Revolut dominated inflows with about 849.21B SHIB, though Arkham suggests much of this may be internal transfers between Revolut-controlled wallets. Binance and Bitstamp also saw major additions (about 177.05B and 163.64B SHIB). Outflows were similarly heavy: Revolut sent out ~849B SHIB, and Bitstamp, Binance and Robinhood recorded large withdrawals, alongside exits from Kraken, OKX, Crypto.com and Wintermute. After the back-and-forth, exchanges ended up net holding ~4.8B SHIB.
For traders, SHIB exchange inflows can still hint at positioning and potential sell pressure, but the large gross in/out suggests mixed intent rather than a clean one-direction bet. With SHIB still below $0.000006 and early-April momentum cautious, the near-term setup looks more neutral-to-risky than bullish.
Seasonality is also mixed: average April return is +3.16%, while the median is -4.26% (skew toward weaker months). SHIB is down about 2.12% early April and trades near $0.000005802.
Neutral
The news is neutral for SHIB because the headline “net inflow” (+~4.8B SHIB) is offset by extremely large two-way gross flows. Arkham’s note that much of Revolut’s inflow may be internal transfers reduces the signal quality for a clear accumulation narrative. At the same time, the start-of-April price weakness (down ~2%) and SHIB trading below $0.000006 point to cautious near-term sentiment. Seasonality adds uncertainty: April historically has a positive average (+3.16%) but a negative median (-4.26%), meaning outcomes are uneven and not consistently supportive. Net effect: possible positioning/liquidity shifts that can amplify volatility, but insufficient directional conviction to classify as bullish or bearish.