The meme-based digital asset Shiba Inu has experienced a substantial withdrawal from exchanges.
Over 8 trillion SHIB tokens with an estimated value of $88 million have been moved out of known exchange wallets since November.
This event marks a significant shift in token distribution and could signal changes in investor behavior toward Shiba Inu.
Transaction statistics breakdown
A closer examination of transaction counts by size reveals diversified activity within the Shiba Inu trading community, according to IntoTheBlock data.
Transactions ranging from as little as $0.00 to $1.00 showed an increase of 25.71% over a 30-day period, while larger transactions above $1 million rose by a staggering 150%.
The highest recorded transaction volume in a single week was 15.34 trillion SHIB, amounting to $158.1 million.
This distribution shows that both retail and large-scale investors are actively engaging with Shiba Inu, reflecting a varied demographic of participation.
Whale movements
The DeFi tracking service Lookonchain has spotted a trend of accumulation by whales, including Tron founder Justin Sun and other high net-worth individuals.
For instance, a new wallet labeled "0xa656" moved 237.87 billion SHIB from Binance, an action that mirrors growing confidence in Shiba Inu's potential.
Meanwhile, two wallets possibly owned by a single investor acquired 850 billion SHIB, investing over $7.5 million.
These investments coincide with a recent rise in the price of the meme cryptocurrency.
Dan Burgin
U.Today Editorial Team
