Shiba Inu (SHIB) has experienced a notable surge in the last 24 hours, with transaction volumes reaching trillions, fueled by significant activity from large investors. The heightened whale activity aligns with SHIB’s push to reclaim the $0.00001 price level after facing a dip to $0.0000086 during the recent market downturn.
One notable trend contributing to SHIB’s momentum is the withdrawal of substantial $Shib tokens from centralized exchanges (CEX). Recent reports highlight significant movements:
A newly emerged wallet withdrew 546.34 billion $SHIB ($4.92 million) from Binance within the last hour, indicating a substantial move by a new player in the SHIB market.
A fresh wallet withdrew 546.34B $SHIB($4.92M) from #Binance in the past hour.https://t.co/RivC1k30EM pic.twitter.com/rxMi3i8G5s
— Lookonchain (@lookonchain) January 8, 2024
More Notable $SHIB Withdrawals To Watch
Another whale identified as “0xF633” made a substantial withdrawal of 500 billion $SHIB ($4.73 million) from Gate.io just five hours ago. Over the past 24 hours, this specific whale has accumulated a staggering 1.08 trillion $SHIB ($10.27 million) from both Binance and Gate.io, showcasing a strategic approach to SHIB holdings.
5 hours ago, Whale "0xF633" withdrew 500B $SHIB ($4.73M) from #Gate.io.
Over the past 24 hours, this Whale has accumulated 1.08T $SHIB ($10.27M) from #Binance and #Gate.io
moneyflow:https://t.co/RTOKmqvfw8 pic.twitter.com/ZfwkFsf2Rp
— Scopescan (@0xScopescan) January 9, 2024
These whale transactions come at a crucial time for Shiba Inu, especially following its recent dip associated with market uncertainties related to the SEC’s decision on a Bitcoin spot ETF. As SHIB aims to recover and reestablish a favorable price level, the actions of these significant investors play a pivotal role in shaping market sentiments.
The trillions in transaction volume within a short timeframe underline the dynamic nature of SHIB trading, where whale activities significantly impact short-term price movements. Investors and enthusiasts keenly watch these developments as Shiba Inu continues to navigate the volatile cryptocurrency landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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