Shiba Inu Whale Activity Surges as Price Rises 12% in Month

Shiba Inu's price has seen a significant surge over the past month, increasing by 12%. This upward trend is largely attributed to the growing activity of whales in the SHIB ecosystem.

A whale recently withdrew 125.33 billion SHIB from a BitGo-affiliated address, valued at approximately $678,000, according to Arkham data cited by TheCryptoBasic on September 10th. This transfer was made to a newly created wallet with no prior on-chain activity, leaving the owner's intentions unclear.

Despite the uncertainty surrounding this transaction, it is worth noting that exchange withdrawals can often suggest an intention to hold rather than immediately sell.