SHIB Whale Withdraws $1.56M Worth of Tokens from OKX

A significant transaction has taken place in the Shiba Inu (SHIB) market. On August 24, an unidentified whale wallet withdrew 280.8 billion SHIB from crypto exchange OKX.

The tokens were worth $1.56 million at the time and were moved to an unlabelled hot wallet. Arkham classified the receiving address as an unverified wallet with ties to digital asset liquidity provider Cumberland.

The large transfer coincided with SHIB's recent gains, but it later retraced some of its move. The token was trading at about $0.000005326, up 2.10 percent over 24 hours and 21.30 percent over the past week.