Based on The Crypto Basic, Shiba Inu (SHIB) saw a 223% surge in active sending addresses on December 4, rising from 3,066 to 9,900 in a single day. The increase occurred amid a generally bearish crypto market and suggests token redistribution rather than profit-taking, as SHIB’s price remained relatively stable. On December 9, investors withdrew approximately 8 trillion SHIB from exchanges, with one large withdrawal of 2.2 trillion SHIB from Coinbase. While exchange inflows increased, they remain significantly lower than the outflows, reinforcing the view that the activity reflects redistribution rather than preparation for selling.
Shiba Inu On-Chain Sending Addresses Spike 223% in One Day
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Summary
Shiba Inu (SHIB) saw a 223% jump in on-chain sending addresses on December 4, rising from 3,066 to 9,900 in 24 hours. On-chain data shows the surge happened during a broader market downturn, with SHIB’s price holding steady. On-chain analysis reveals 8 trillion SHIB moved out of exchanges by December 9, including a 2.2 trillion SHIB withdrawal from Coinbase. Exchange inflows grew but stayed far below outflows, pointing to token redistribution rather than selling pressure.
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