Shiba

Shiba Inu

Trillion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Recent data from&nbsp;<a href="https://x.com/santimentfeed/status/1810792970649751591" rel="noopener noreferrer nofollow">Santiment</a> shows a notable shift in the&nbsp;<a href="https://u.today/shiba-inu-insiders-crucial-tweet-sparks-shib-community-buzz" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> market, with whale behavior indicating a change.
Thus, over the past month, the 150 largest nonexchange SHIB wallets have added 6.57 trillion more coins, while the top 150 exchange wallets have reduced their holdings by 5.53 trillion coins.
This withdrawal of SHIB tokens from exchanges by large holders suggests increasing confidence among nonexchange whales, who are growing their Shiba Inu holdings as exchange whales decrease theirs.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="7f4928f8-1d22-4407-ac46-6c5ba44bae42" src="https://u.today/sites/default/files/inline-images/GSE6KH1a4AAy4sI.jpeg">Source: <a href="https://x.com/santimentfeed/status/1810792970649751591" rel="noopener noreferrer nofollow">Santiment</a>
This trend is viewed positively by the community, as it may strengthen overall market sentiment and reduce the risk of sudden sell-offs.
<h2 dir="ltr" id="lack-of-attention">Lack of attention</h2>
The withdrawal of&nbsp;<a href="https://u.today/binance-ceo-faces-shib-armys-pleading-to-start-burning-shib-heres-why" rel="noopener noreferrer nofollow">Shiba Inu</a> tokens from exchanges by whales can be considered an unambiguously positive phenomenon that can strengthen the confidence of the SHIB community. And there is something to strengthen.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="f34204a7-0b52-4dec-802f-191898662c30" src="https://u.today/sites/default/files/inline-images/shib_232.png">Source: <a href="https://coinmarketcap.com/view/memes/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
In recent days and even weeks, the mood of market participants about the popular meme cryptocurrency seems like it cannot get worse.
Despite the fact that SHIB is the 11th largest coin by capitalization, it is the last among the top five meme tokens in terms of trading volume.&nbsp;
It is possible that, according to the whales, this is exactly the moment of time at which it is most logical to accumulate the Shiba Inu token. Whether this accumulation foreshadows some major price movement for&nbsp;<a href="https://u.today/shiba-inu-skyrockets-347-in-burn-rate-with-millions-of-shib-burned" rel="noopener noreferrer nofollow">SHIB</a> in the near future is perhaps the most interesting question right now.

6.57 Trillion Shiba Inu (SHIB) Whale Withdrawals Stun Crypto Exchanges

Table of Contents

U_Today

Other articles published on Jul 11, 2024

ALEX Lab Token Emerges Top Gainer Among Largest 500 Crypto Assets!

Huge BitMEX Outflows Can Ignite Bitcoin Bulls

Transforming the Landscape: Public Masterpiece Redefines Real World Asset Tokenization

Bitcoin’s big buy – $540M purchase spurs possible rally towards $60,000

Experts Analyze Bitcoin and Altcoin Trends

Top low-cap memecoins for massive surge this July!

Join our free newsletter for daily crypto updates!