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Large Shiba Inu Holders' Inflows Skyrocket by Trillions of SHIB: What Happened?

Wed, 05/17/2023 - 15:05
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Gamza Khanzadaev
Shiba Inu (SHIB) major holder inflow spike sparks curiosity
Large Shiba Inu Holders' Inflows Skyrocket by Trillions of SHIB: What Happened?
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In the last 24 hours, anomalous activity has been seen around the Shiba Inu token, SHIB. Thanks to data from crypto intelligence portal IntoTheBlock, the number of inflows from major holders increased by more than 20.1 trillion SHIB. The last time a surge of similar power for this metric was seen was on March 23, and before that in early January.

Whopping 20 Trillion Shiba Inu (SHIB) Moved by Anon Wallets as Meme Token Season Continues

It is typical that both of these instances of Shiba Inu token inflows to the addresses of large holders were accompanied by outflows of a similar scale. The last case was no exception, and the number of SHIB tokens that flowed out in the same 24 hours was 20.16 trillion tokens, which is even 60 billion more than the inflow.

You do not have to be Sherlock Holmes to figure out that there has been a redistribution from one large wallet to another. Whether these wallets are exchange wallets or whether an individual investor is behind the moves remains unknown. It is highly likely that the spikes in metrics are related to the SHIB transfers that U.Today reported on earlier today.

Fifth Largest Shiba Inu (SHIB) and Dogecoin (DOGE) Whale Is Same Person: Here's Who

Whale activity has been a key topic for the Shiba Inu token community since 44% of the circulating SHIB offering is in their hands — and that is with the exception of the "dead" address destined for combustion and the 121 trillion SHIBs concentrated on 42 smaller addresses.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.