Shiba Inu Whale Amasses 361 Billion Tokens Amid Price Weakness

On September 10th, a significant transfer of Shiba Inu (SHIB) tokens took place from South Korea's Coinone exchange to a large wallet holding approximately $23.53 million in crypto assets.

The transferred amount was 361 billion SHIB tokens.

This move has sparked speculation about possible accumulation or changes in custody, but the price of SHIB dropped around 2% to $0.00000503, remaining near a critical support level.

Additionally, net outflows from exchanges suggest reduced sell-side supply, yet buyers have not pushed prices higher, indicating weak market demand despite lower exchange reserves.