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 <p>The Shibarium launch came up with major hiccups as the Shiba Inu (SHIB) price corrected 30% from its peak. As of press time, Shiba Inu (SHIB) is trading at a price of $0.0000079 with a market cap of $4.7 billion.</p>  
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 <p>On the other hand, the positive development is that a lot of SHIB coins have been moving off exchanges recently. Over the past week, more than 2 trillion SHIB tokens have been pulled off from the exchange wallets.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">#ShibaInu | A staggering 2 trillion $SHIB tokens have been pulled from known #crypto exchange wallets just this past week. pic.twitter.com/MiWMNUp7jY</p> 
  <p>— Ali (@ali_charts) August 27, 2023</p>  
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 <p></p> 
 <p>From August 17 to August 26, holders of Shiba Inu have withdrawn 1.8 trillion SHIB tokens, equivalent to $14.5 million at the present market value of $0.000008. Notably, this surpasses 10% of Shiba Inu’s average trading volume in the past week.</p>  
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 <p>This situation underscores the possibility of another supply squeeze having a significant impact on SHIB’s price. If the concerns around Shibarium diminish and market demand experiences a surge, this could become a pivotal development for the SHIB price.</p> 
 <h3 id="shiba-inu-active-addresses">Shiba Inu Active Addresses</h3> 
 <p>However, one thing to watch for is that the market demand for Shiba Inu (SHIB) still remains neutral. The provided chart indicates a decrease in daily Active Addresses within the Shiba Inu network starting from August 16. As of August 26, this count reached 3,647, marking a 56% reduction compared to the 8,214 Active Addresses observed on August 16.</p> 
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   Courtesy: CryptoQuant
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 <p>Active Addresses is a measure of the daily individuals engaging in economic transactions on a blockchain network. Consequently, the number of investors utilizing SHIB for transactions has notably decreased.</p> 
 <p>Along with SHIB, Litecoin seems to have attained stable support after its correction post its halving. In the price range between $63.22 and $65.19, a total of <span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">215,000 addresses bought 3.81 million </span><span class="r-18u37iz">$LTC</span><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">. thus, a Litecoin price rebound to $75 is likely in the near term, notes popular crypto analyst Ali Martinez.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">On-chain data shows that #Litecoin reached a stable support wall between $63.22 and $65.19, where 215,000 addresses bought 3.81 million $LTC. </p> 
  <p>For a potential rebound to $75, this level must stand strong. A breach, however, might send #LTC on a slide to $50. pic.twitter.com/UMHP52n5kQ</p> 
  <p>— Ali (@ali_charts) August 27, 2023</p>
 </blockquote> 
 <p></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shiba-inu-massive-exchange-outflow-hint-at-bullish-shib-action-tbt60595.html">https://thebittimes.com/shiba-inu-massive-exchange-outflow-hint-at-bullish-shib-action-tbt60595.html</a></p>

Shiba Inu Massive Exchange Outflow Hint At Bullish SHIB Action

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