Shiba Inu's exchange liquidity has been gradually tightening over the past week. Since early December, roughly 80 trillion SHIB has exited major exchanges, creating a noticeable shift in market dynamics. Exchange balances have compressed from 370.3T down to 290.3T tokens, while circulating supply stands at 589.24T. What's particularly interesting is the split: 290.4T SHIB remains on-exchange, with 289T now held off-exchange across various wallets. This outflow pattern suggests increasing holder conviction, as retail and institutional participants pull liquidity away from trading venues. The tightening could signal either accumulation pressure or reduced selling interest—worth tracking closely for the next moves.