SHIB Daily Burns Surge 350% With Whales Accumulating, Exchange Outflows Continue

According to Shibburn data, Shiba Inu's 24-hour burn rate jumped 350.29% on July 20, with 12.47 million SHIB removed from circulation. The seven-day burn total reached 44.23 million SHIB, a 32.63% increase over the week.

Spot flow data revealed approximately $175,050 in negative netflows, indicating more tokens exited exchanges than entered. Meanwhile, large whale-sized orders continued dominating the spot market despite subdued price action, suggesting sophisticated investors were accumulating positions.