Shiba Inu: Massive SHIB Exodus from Binance as New Whales Surface

Vignesh Karunanidhi
Mystery Shiba Inu Whale Snaps Up $444K in SHIB Amid Recent Rally
Source: Analytics Insight

Recent data from Etherscan shows that two previously inactive cryptocurrency wallets, “0x6ab” and “0xA75”, have received substantial withdrawals of Shiba Inu (SHIB) tokens from the exchanges Binance and MEXC, totaling 61 billion SHIB. This indicates new Shiba Inu whales surfacing

At current market prices, these transactions are valued at over half a million US dollars. Prior to receiving the SHIB, neither wallet appeared to have any previous transaction history or account activity.

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New Shiba Inu wallets emerge with no prior transactions

The first wallet received its SHIB directly from Binance, while the second wallet obtained its tokens from another anonymous wallet that had withdrawn them from MEXC. Shortly after, both wallets deposited their newly acquired SHIB tokens back onto Binance, using different transfer routes.

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The large token movements between unknown wallets and exchanges have generated discussion within the Shiba Inu investor community about the potential motivations and strategies behind these transactions. The activity comes shortly after the emergence of a new Shiba Inu whale wallet containing 4.6 trillion SHIB, which has also attracted attention.

This is not a standalone movement in the SHIB community. There have been recurring instances of new wallets emerging with billions and trillions of SHIB. This has also intrigued the community about the real motives of these wallet holders.