Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to on-chain data, the outflow of Shiba Inu tokens from the wallets of large holders accelerated rapidly in the 24 hours of Saturday, from 268 million to 2.47 trillion SHIB. The reason for the sudden change is not clear, given that the price of the Shiba Inu token did not show any extraordinary dynamics during the same period.
At the same time, some of the outflowing tokens were counterbalanced by inflows, albeit in less impressive amounts.
Tomiwabold Olajide
Shiba Inu whales
It is no secret that the majority of the Shiba Inu token supply, namely 636.42 trillion SHIB, including the burn address, is held in whale wallets, many of which are hot wallets of large centralized exchanges. This resilience in the face of such significant outflows points to the possibility of coordinated efforts by centralized entities, as they shuffled tokens between wallets in an orchestrated manner.
Arman ShirinyanOn the other hand, the fact that there is a massive concentration of tokens among a select few wallets raises questions about the impact such holders can have on the Shiba Inu token market.
Yuri Molchan
Vladislav Sopov
Dan Burgin