In accordance with Captainaltcoin, more than 8 trillion SHIB tokens were withdrawn from centralized exchanges in a single day, according to data from TheCryptoBasic. The large outflow has drawn attention as SHIB's price remains near recent lows. Whale activity suggests a shift in token custody, potentially reducing immediate selling pressure. However, not all withdrawals indicate bullish sentiment, as some whales may be preparing for OTC trades or DeFi activity. Arkham also reported a 2.2 trillion SHIB withdrawal from Coinbase on December 9. Meanwhile, over 1.06 trillion SHIB flowed back into exchanges, signaling potential sell pressure. SHIB is currently trading at $0.00000833, with analysts watching the $0.0000080 support level closely.
8 Trillion SHIB Withdrawn From Exchanges as Shiba Inu Price Hovers Near Lows
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Summary
Network activity surged as over 8 trillion SHIB tokens were withdrawn from centralized exchanges in one day, per TheCryptoBasic. A 2.2 trillion SHIB outflow from Coinbase on December 9 was reported by Arkham. SHIB’s crypto price remains near $0.00000833, with 1.06 trillion SHIB returning to exchanges. Whale movements suggest shifting custody, but some may be positioning for OTC or DeFi. Analysts are closely watching the $0.0000080 support level.
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