Shiba Inu Reclaims Crypto Top 30

Shiba Inu ($SHIB) has worked its way back into the top 30 cryptocurrencies by market capitalisation, driven by a notable shift in on-chain behaviour rather than any breakout in price.

Whales Pull Nearly 781 Billion SHIB Off Exchanges

According to CryptoQuant data, exchange balances dropped from 87.96 trillion to 87.18 trillion tokens over the four-day span ending June 29, with net outflows of 781 billion SHIB pointing to sustained accumulation and reduced sell-side liquidity. The withdrawals signal that large holders are moving tokens into private wallets rather than leaving them available for sale on trading platforms.

Despite a heavy downtrend during the final week of June, whales moved to absorb selling pressure and shifted the market into a phase of quiet accumulation. Large players placed a dense limit wall at the $0.00000414 level, halting the token's decline, which stood at -10.27% for the week, and allowing it to regain lost positions in the rankings as competing altcoins weakened.

Rankings Comeback With Market Cap Holding Above $2.48 Billion

The token had briefly slipped to 31st place after falling 11.22% over seven days, pushing its price to $0.000004153 and reducing its market cap to approximately $2.44 billion, as Tether Gold (XAUT) moved in to claim the 30th position with a market cap of $2.48 billion. SHIB subsequently reclaimed the 30th spot in CoinMarketCap's rankings.

The withdrawal of billions of tokens into cold storage did not trigger an immediate explosive rally, but it fulfilled a clear strategic purpose: it blocked the decline and secured the marginal gains needed to return to the top 30.

Price action remains contained for now. SHIB is trading in a narrow horizontal range between support at $0.00000414 and local resistance around $0.00000430. Derivatives trading continues to dominate market activity, with futures volume significantly outpacing spot demand, highlighting the market's dependence on short-term speculation rather than sustained buying.

Sources:
U.Today: Shiba Inu Re-Enters Crypto Top 30 as Exchange Reserves Plunge
Crypto Economy: SHIB Returns to Top 30 While Exchange Balances Hit Multi-Year Lows
The Crypto Basic: Shiba Inu Whales Accumulate 500B SHIB as Price Slump Creates Buying Opportunity