Shiba Inu Whales Inject $170M Worth of Tokens in 24 Hours

Shiba Inu's (SHIB) price action may be influenced by whale activity as its top 10 whales have injected 10.44 billion SHIB into exchanges over the past 24 hours, according to on-chain data.

This represents a 1.51% increase in the last 24 hours and is considered a meaningful block of tokens arriving on exchanges, sparking questions about the current sentiment among whales.

Despite this influx, the broader exchange picture remains active but balanced, with total exchange inflows reaching 460.69 billion SHIB, up 1.37%, while outflows stood at 419.33 billion, up 1.19%.

This leaves a net inflow of 41.36 billion SHIB, although the netflow reading fell 2.83% on the day, suggesting the gap is narrowing.