In the last 24 hours, billions of Shiba Inu (SHIB) token unexpectedly left major crypto exchanges. According to Etherscan data, large amounts of withdrawals were made from Binance and Coinbase, two major players in the crypto exchange industry. These transactions were made from unknown new addresses, creating a strikingly triple scene.
The first in this chain of abnormally large SHIB transfers was address “0x6dF”. In the last 24 hours, this address has withdrawn 71.832 billion SHIB from the Coinbase hot wallet, an amount equivalent to almost $2 million. cryptocurrency The entire volume was transferred to this address in four different tranches and was not moved anywhere else.
The next address was “0xf77”, which attracted 37.139 billion SHIB from Binance, the world’s largest crypto exchange, in a single transfer equivalent to $977,510. This address was also new and no further action was taken. The third was “0x591,” which withdrew over 75 billion Shiba Inu tokens from Coinbase in the last 24 hours in five different tranches for the equivalent amount of over $2 million.
Shiba Inu (SHIB) Price Outlook
Popular meme coinWhile the price of has experienced significant unrest, it should be noted that Shiba Inu tokens with a total value of over $5 million have been withdrawn from Coinbase and Binance. Over the past day, SHIB’s price has lost another 11% as part of a decline that has continued over the past week. The Shiba Inu token price hit a local bottom after stalling at $0.0000255 and saw a buyer response that pushed quotes up 7.8%.
Has the withdrawal of the Shiba Inu token from exchanges by the aforementioned whales affected the recovery in price bidding? Probably yes, if these tokens were purchased and deliberately withdrawn from platforms, this traditionally indicates bullish activity by large players. However, it remains to be seen whether such cases will arise again and what will eventually happen to the SHIB price.
