As per The Crypto Basic, over 8 trillion Shiba Inu (SHIB) tokens were withdrawn from centralized exchanges within 24 hours, marking one of the largest outflows in several months. The movement suggests potential accumulation by large holders, who may be transferring SHIB to self-custody wallets, reducing near-term selling pressure. However, not all withdrawals indicate accumulation, as some could be for OTC deals or DeFi participation. On December 9, a single wallet withdrew 2.2 trillion SHIB ($18.88 million) from Coinbase. Meanwhile, SHIB also saw notable inflows, with over 1.06 trillion tokens added to exchanges, signaling uncertainty among large holders. SHIB is currently trading at $0.00000833, down 3% in the past 24 hours.
8 Trillion SHIB Withdrawn From Exchanges in 24 Hours, Sparking Bullish Speculation
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Summary
On-chain news shows over 8 trillion SHIB withdrawn from exchanges in 24 hours, with major outflows including a 2.2 trillion SHIB ($18.88 million) withdrawal from Coinbase. While some suggest accumulation, others point to DeFi exploit activity or OTC trades. SHIB also saw 1.06 trillion tokens return to exchanges, adding uncertainty. The token trades at $0.00000833, down 3% in the last day.
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