Shiba Inu Dumps 22% in a Month: What’s Happening With SHIB?

Shiba Inu has dropped about 20% over the past month, but the meme coin regained a spot among the top 30 cryptocurrencies despite subdued network activity.

$SHIB Enters Q3 With Major Supply Shift

Data from Arkham Intelligence shows that investors withdrew around 2.6 trillion $SHIB tokens from centralized exchanges like Binance and Kraken on June 30, capping a month-long trend of exchange outflows by large holders.

The withdrawals came as $SHIB posted its worst-ever second quarter, falling 29.5% in Q2 and 24% in June.

The exchange outflows have fueled speculation of a potential July rebound, as $SHIB has historically posted positive July returns over the past four years, U.Today reported.

In 2022, $SHIB returned 13.4% while 8.92% in 2025.

However, analysts caution that the transfers could simply reflect routine fund reshuffling rather than a bullish accumulation signal.

Dull Burning Activity, Lull In Transactions

Shiba Inu’s token-burning mechanism, once a key driver of supply reduction and price appreciation, has lost momentum in recent months.

Data from Shibburn shows the burn rate has increased by just 1% over the past month, while roughly 410.8 trillion $SHIB, or about 41% of the total supply, has been removed from circulation till date.

Network activity has also weakened sharply.

According to Shibarium data, daily transactions have plunged to around 1,280, down from peaks of more than 3 million transactions per day recorded in 2025, highlighting a significant slowdown in ecosystem usage.

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