Recent blockchain data reveals substantial capital movement by large holders of the Shiba Inu (SHIB) token, indicating a potential shift in market strategy and affecting token supply distribution.
Over a three-day period spanning early August, approximately 359.6 billion SHIB exited wallets identified as belonging to large holders (‘whales’). This outflow volume significantly surpasses previous totals, marking a pronounced change in whale activity.
The major cryptocurrency exchanges Coinbase and Binance continue to hold considerable SHIB reserves, functioning as key liquidity hubs. Analysts suggest the significant withdrawal of tokens from whale addresses, potentially to private wallets, could reduce readily available supply across exchanges. Such movement is often interpreted as a shift towards long-term holding strategies rather than imminent selling.
This reduction in immediate selling pressure coincided with a modest price rise for the meme coin. During the same period of heightened outflow activity, SHIB’s price increased from $0.000013 to $0.000014. Observers are monitoring whether the reduced supply on exchanges, driven by these outflows, could lead to further upward pressure on the SHIB price.