Shiba Inu Gains 44.1% in Q3 After Three Monthly Advances

Shiba Inu (SHIB) gained 44.1% in the third quarter after advancing in each month, while net outflows from exchanges exceeded 74 billion tokens.

SHIB rose 12.2% in July, 7.55% in August and 19.4% in September, following a 24% decline in June. The quarter’s gain contrasts with a historically weaker seasonal pattern: September has averaged a 5.5% return.

More than 74 billion SHIB recorded net outflows from exchanges. Net outflows mean more tokens left exchange wallets than entered them, but the reading does not establish that holders bought SHIB, moved it to private wallets or placed it in long-term storage. It also does not show that selling pressure has declined.

An earlier 24-hour reading showed net outflows of 74.37 billion SHIB. Exchange-flow readings can be affected by custody transfers and wallet reclassification.

The broader cryptocurrency market recovered during the quarter, but the available information does not identify a specific catalyst for SHIB’s monthly gains.