SHIB Slips to Rank 33 as FTX Estate’s $250K Wallet Move Meets 35B Exchange Netflow
On-chain data shows a $250K FTX-estate SHIB transfer and a 35B-token exchange netflow reversal as Shiba Inu falls out of the top 30 by market cap.
Shiba Inu has slipped to 33rd place by market capitalization after falling out of the top 30, with the token trading between $0.000004091 and $0.000004158 and a market cap near $2.41 billion, according to figures cited by different outlets Thursday. The move coincides with two separate on-chain signals: a government-controlled wallet tied to the FTX bankruptcy estate emptying roughly 54.9 billion SHIB, and a fresh exchange netflow that shows more tokens arriving on trading venues than leaving them.
FTX Estate Wallet Empties Its SHIB Position
Blockchain analytics platform Arkham Intelligence flagged a transfer of approximately 54.9 billion SHIB, worth about $250,000, moved across two transactions from a U.S. government-linked wallet. Most of the balance shifted in one large transaction, with a smaller follow-up transfer clearing the wallet entirely, leaving the receiving address funded exclusively with the transferred tokens.
The SHIB movement was part of a wider reshuffling of assets tied to the FTX and Alameda Research collapse, with blockchain records also showing millions of dollars in Ethereum and Tether routed to Coinbase. That has fed speculation that the estate is preparing further liquidations ahead of upcoming creditor repayments, though the estate has historically converted recovered crypto into cash rather than distributing tokens directly to claimants.
Given that the $250,000 transfer is small relative to SHIB’s daily trading volume, traders are unlikely to see an immediate price impact unless further transfers to exchanges follow. Separately, the U.S. Senate passed a nonbinding resolution this week opposing any pardon or sentence commutation for former FTX CEO Sam Bankman-Fried, signaling continued political pressure around the estate’s wind-down.
Exchange Netflow Turns Positive After a Ten-Day Outflow Streak
On-chain data from CryptoQuant shows a separate and larger flow dynamic playing out over the past 24 hours. Investors deposited 352.53 billion SHIB onto exchanges while only 317.44 billion left trading platforms, producing a net positive inflow of 35.08 billion tokens — a reading typically read as a precursor to selling pressure.
Total SHIB reserves held across exchanges climbed to 86.497 trillion tokens, up 0.04% over the same period. The shift marks a reversal from the bullish setup seen just days earlier, when holders withdrew more than 1.4 trillion SHIB from centralized exchanges over a ten-day stretch — a pattern usually associated with long-term holding rather than distribution.
Price and Ranking Under Pressure
Price figures vary slightly between sources: SHIB was quoted at $0.000004158, down 1.21% on the day and roughly 3% over the week by one account, and at $0.000004091, down 3.2% over 24 hours, 5.65% over seven days and 16.81% over the past month by another. Either way, the token has continued its slide down the market-cap rankings, dropping out of the top 30 to 33rd place with a market cap near $2.41 billion.
The weakness comes as SHIB missed inclusion in T. Rowe Price’s newly launched Active Crypto ETF, denying the token a potential institutional exposure catalyst that some holders had anticipated. On the retail side, Japanese platform Rakuten Wallet gave SHIB a visibility boost by issuing its first physical Shiba Inu commemorative coin under its “Real Coin” collectible series, distributed across a retail ecosystem reaching roughly 44 million users — though the on-chain and ranking data suggest that promotional exposure has yet to offset broader selling pressure.
Traders will likely keep watching government-linked and FTX-estate wallets for further transfers toward centralized exchanges, alongside SHIB’s exchange reserve trend, for signs of whether the current netflow reversal extends into sustained selling.