Shiba Inu Sees 8 Trillion Token Withdrawal

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%.

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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.