Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) both dropped roughly 5%, as DOGE’s record $18.77 million outflow shows institutions selling, while SHIB’s 72% burn rate spike proves supply reduction alone won’t save price.

DOGE Sees Largest Outflow In Months During Price Spike

Dogecoin saw $18.77 million flow out of exchanges yesterday—the biggest single-day withdrawal in months—but it happened while the price was trying to go up.

That’s a red flag. When price rises but money leaves, it means larger players are selling their positions to smaller buyers who are jumping in late. 

The buying pressure from retail isn’t strong enough to absorb the selling from institutions.

Benzinga