Shiba Inu Whales Withdraw 2,553,827,943,318 SHIB from Exchanges

Shiba Inu whales transferred 2.55 trillion SHIB from exchanges, with 2.2 trillion worth $39.9M moved from Robinhood, and 353 billion valued at $6.6M from Binance.

Shiba Inu whales have been transferring their holdings from exchanges, stirring up interest and speculation among investors. On June 20, a notable transaction was reported by Whale Alert, involving the transfer of 2,200,000,000,000 SHIB ($39,945,400) from a wallet identified as Robinhood to an unknown recipient.

🚨 🚨 2,200,000,000,000 #SHIB (39,945,400 USD) transferred from #Robinhood to unknown wallethttps://t.co/PI39McZERl

— Whale Alert (@whale_alert) June 20, 2024

The sender’s wallet, with an Ethereum balance of 96,161 ETH ($337,983,386), has been active for at least 748 days, while the recipient’s wallet, which holds 1.3 million ETH worth $4,791,228,783.80, has been active for 408 days.

Further Shiba Inu Withdrawals From Exchanges

Notably, the exchange withdrawals did not stop there, as Lookonchain reported a whale withdrawing 353.83B SHIB ($6.6M) from Binance 45 minutes before the Robinhood transfer. This whale currently holds a total of 838.87B SHIB ($15.5M) and has profited $6.12M from SHIB transactions.

A smart whale withdrew 353.83B $SHIB($6.6M) from #Binance 45 minutes ago and currently holds 838.87B $SHIB($15.5M).

The whale’s profit on $SHIB is $6.12M.https://t.co/2knxKp4yEZ pic.twitter.com/05AQV2zqLw

— Lookonchain (@lookonchain) June 20, 2024

These massive fund flows come at a time when Shiba Inu is showing signs of a potential price rebound, amidst a mild resurgence in the broader crypto market. On-chain analytics resource Arkham Intelligence previously indexed over 1.3 trillion Shiba Inu tokens moved by whale addresses by May 10. These transactions included movements across unknown wallets and into exchanges.

Repositioning Amid Market Volatility

Ultimately, the timing of these transactions is particularly notable, as they coincide with a period of increased market activity and interest in Shiba Inu. The transfer of such large sums from exchanges could indicate strategic repositioning by whales.

Meanwhile, the price of Shiba Inu (SHIB) stands at $0.00001797, with a 24-hour trading volume of $274,726,427. This represents a 3.01% price decline in the last 24 hours and a 16.52% drop over the past week.

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