Shiba Inu Whales Withdraw Billions as Price Declines

Shiba Inu (SHIB) on-chain activity recorded a significant surge in transfer volume over the past 24 hours, rising by 14.86%.

This increase coincided with a local drop in the token's price to $0.00000442.

Data from CryptoQuant and Etherscan shows that while retail investors watch the price decline, the largest holders are withdrawing 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.