Shiba Inu, a meme-based digital asset, has seen a significant withdrawal from exchanges.
Since November, more than 8 trillion SHIB tokens worth an estimated $88 million have been removed from known exchange wallets.
This development represents a substantial shift in the distribution of tokens and may indicate modifications in investor sentiment towards Shiba Inus.
Transaction statistics breakdown
Based on IntoTheBlock data, a more detailed analysis of transaction counts by size indicates a diverse range of activity within the Shiba Inu trading community.
Over the course of a 30-day period, transactions with a value between $0.00 and $1.00 showed a rise of 25.71%, while those with a value exceeding $1 million saw an astounding 150% increase.
The most amount of transactions ever recorded in a single week was $158.1 million, or 15.34 trillion SHIB.
This distribution demonstrates that a wide range of investor demographics are actively participating in Shiba Inu, including both small and large-scale investors.
Whale movements
Lookonchain, a DeFi tracking tool, has observed a pattern of whale accumulation, including Justin Sun, the inventor of Tron, and other wealthy people.
For example, a new wallet with the label “0xa656” transferred 237.87 billion SHIB from Binance, reflecting the increasing belief in the potential of Shiba Inu.
In the meanwhile, two wallets that could belong to a single investor invested more than $7.5 million to purchase 850 billion SHIB.
The price of the meme cryptocurrency has recently increased in tandem with these investments.
