SHIB Whale Wallets Empty Exchanges En Masse Amid Price Drop

Shiba Inu (SHIB) on-chain activity surged by 14.86% in transfer volume over the past 24 hours, coinciding with a local drop in price to $0.00000442.

Fresh data from CryptoQuant and Etherscan shows that while retail investors watch the price decline, the largest holders are using this moment to withdraw billions of SHIB from trading platforms en masse.

The reason for this dynamic is that Shiba Inu is extremely centralized: just 740 whale wallets control a colossal 94.57% of the coin's entire circulating supply, with nearly one million small investors collectively owning just 0.05% of the SHIB supply.

These large players are not transferring tokens to exchanges to sell them; instead, they're removing supply from the market by moving billions of SHIB to cold wallets.