[DigitalToday reporter Yoonseo Lee (이윤서)] Shiba Inu (SHIB) has recorded a net inflow of 4.8 billion SHIB to centralized exchanges over the past 24 hours, but it has still not escaped a downtrend.

On April 2 (local time), blockchain outlet The Crypto Basic reported that Arkham Intelligence data put exchange inflows over the period at about $27,000. The fund movements were concentrated around April 1. Shiba Inu was still down about 2.69 percent on a 24-hour basis.

Revolut had the largest inflow. One Revolut wallet received about 84.921 billion SHIB. Arkham viewed it as likely to be an internal transfer from another Revolut wallet. Binance recorded inflows of 177.05 billion SHIB and Bitstamp logged 163.64 billion SHIB. Wintermute, Bybit and OKX also saw inflows.

Outflows were also large. Revolut sent out about 849 billion SHIB from its wallet over the same period. Bitstamp recorded outflows of 194.39 billion SHIB and Binance logged 129.48 billion SHIB. Bithumb saw 70.75 billion SHIB leave and Robinhood had outflows of 69.51 billion SHIB. Outflows of several billion SHIB also occurred at Kraken, OKX, Crypto.com and Wintermute.

After these inflows and outflows, the increase in exchange balances was tallied at 4.8 billion SHIB. Based on Cryptorank, SHIB's average return in April is 3.16 percent. The median performance for April was tallied at minus 4.26 percent. In April 2021, SHIB rose 69.4 percent, and in April 2022 to 2024 it fell 22 percent, 6.41 percent and 26.9 percent, respectively. Last April, it rose 6.92 percent.

The market is focusing on the fact that a small rise in exchange balances did not lead to a price rebound. Net inflows can be interpreted as an increase in potential selling supply, but internal wallet transfers and large outflows also appeared at the same time, leading to an assessment that it is still hard to pin down a clear direction.

In the end, a recovery in actual buying appears more important in the short term than exchange inflow and outflow flows. Shiba Inu has shown a positive average return so far in April, but with median performance in the red, it is hard to completely rule out the possibility that weakness continues this month amid greater volatility.