OKX Unloads 110B SHIB Amid Token's Modest Price Recovery

Shiba Inu (SHIB) has seen a modest price recovery, climbing above $0.0000056 after gaining 3.92% over the past 24 hours.

In this context, major crypto exchange OKX moved 110,779,994,032 SHIB tokens from its cold wallet to a hot wallet at 03:09 UTC today.

According to Arkham data, this transfer is worth approximately $615,000 at the current price. The movement could indicate that OKX is preparing additional SHIB liquidity for potential withdrawals.

However, it's essential to note that the latest transfer represents only a small portion of OKX's overall SHIB holdings, with its cold wallet ranking as the 10th-largest SHIB holder, holding approximately 6.70 trillion SHIB.