Shiba Inu News Today: Biggest Reason Behind SHIB Coin Price Crash
Shiba Inu News Today: SHIB Price Crash After Binance Withdrawal Reopen
Red candles, a reopened withdrawal gate, and over $6.3 Billion hack bill. That’s the backdrop for every trader checking Shiba Inu news today, and the three events are more connected than they first look.
Key Takeaways
- SHIB dropped 2.2% in 24 hours and over 6% on the week, trading close to its weekly low.
- Binance reopened SHIB withdrawals on November 3 after its hack, and whales used that window to sell.
- SHIB holder count slipped while exchange reserves rose, a mix that often points to short term selling pressure.
Why Is SHIB Crashing Today: Binance Behind?
Shiba Inu price trades at $0.00000454 today, down 2.2% in 24 hours, with a market cap of $2.675 billion and a trading volume of $42.298 million, according to CoinGecko. On the weekly chart, $SHIB fell over 6%, pulling the coin near its weekly low of $0.00000450.
Source: CoinGecko Data
| Metric | Value |
|---|---|
| SHIB Price | $0.00000454 |
| 24h Change | -2.2% |
| Market Cap | $2.675B |
| 24h Volume | $42.298M |
| Weekly Change | -6.0% |
| Weekly Low | $0.00000450 |
That’s the short answer. The longer story runs through Binance’s hack and the withdrawal gate it just reopened.
Binance Hack 2026 Sets The Tone: SHIB Binance withdrawal news
The Binance hack update that triggered this whole chain started with the exchange itself.
As per FBI report, Binance estimated the impact at around $6.3 billion, a figure larger than every recorded loss across the entire third quarter combined. Numbers that size don’t stay contained to one exchange. They move through every token with deep Exchange liquidity, and $SHIB is one of them.
Here’s where today’s Shiba Inu news today story turns practical. Binance confirmed on its official X account that it brought back withdrawals for LINK and SHIB, reopening nine networks from 04:00 UTC on November 3.
Source: X Post
The reopened access covers Ethereum and Solana network assets, $SHIB included. Once that gate opened, the selling didn’t wait. The withdrawal reopening led directly to a whale selloff, as large holders moved to exit positions that had been locked during the freeze.
$SHIB Holders Drop After The Hack
Holder data from Etherscan backs up the pullback story. SHIB holders stood at 1,698,954 on October 23. By November 3, that number had fallen to 1,696,222, a decline of roughly 2,700 wallets following the Binance hack. It’s a small slice of the total holder base, but the direction matters.
Source: Etherscan Data
Fewer holders at the same time as a price crash usually means weaker hands are stepping away rather than buying the dip.
SHIB Exchange Reserves Tell A Mixed Story
Not every data point points the same way. An official X post put SHIB exchange reserves at 85.8432 trillion tokens in early November, up 0.01% over 24 hours. That reserve was valued at about $397.45 million, down 1.69% on the day, while exchange netflow stayed positive at roughly 10.94 billion SHIB.
Source: X Account
More $SHIB sitting on exchanges, plus positive netflow, usually signals that holders are parking tokens closer to a potential sale rather than moving them into cold storage.
What’s Next For Shiba Inu?
Not every signal is bearish. Rakuten Wallet, a Japanese crypto exchange, posted on X that it will run a coin giveaway at an investment seminar in November. The announcement landed for today, November 3, a public holiday in Japan, and the community is treating it as a notable moment heading into the rest of the year.
A strong turnout at that seminar could lift sentiment and support a short term bounce. One regional event is unlikely to offset weaker burns and softer trading activity on its own, so the bigger picture still depends on how the situation unfolds from here.
Expert Opinion: Market analysts tracking this Shiba Inu news today cycle note that the combination of a major exchange hack, a withdrawal reopening, and a holder decline rarely resolves in a single session. The pattern suggests short term volatility could continue until exchange reserves and netflow trends stabilize.
The Japan based giveaway news adds a mild positive counterweight, but it is not treated as a reason to expect an immediate reversal in price direction.
