Shiba Inu (SHIB) Investors Taking Profits? Billions Move on Exchanges

A vast number of Shiba Inu (SHIB) tokens has recently been moving on the deposit addresses of major exchanges. Data from SHIB's blockchain explorer has revealed a sudden influx of transactions on platforms like Coinbase and Binance.

Timeline of Shiba-inu

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In an unexpected turn of events, Shiba Inu (SHIB), widely recognized as a volatile meme-based cryptocurrency, has showcased a solid performance in recent weeks. Contrary to its erratic reputation, SHIB has managed to outperform a significant portion of the crypto market during a period of correction, adding more than 20% to its value.

For most of the last two weeks, Shiba Inu's (SHIB) price has hovered just below the 0.0000080 mark. On-chain Price Volatility data suggests that most holders are taking neutral positions as they await the Shibarium Mainnet launch.

Shiba Inu (SHIB) is the second largest meme coin and has a special feature compared to Dogecoin: token burns. Hardly any other topic is discussed more frequently in the SHIB community (besides Shibarium) and causes confusion in the process.

Shibburn platform, which accumulates details about transactions that burn Shiba Inu and shares them on its website, has issued a tweet to address a question that has been voiced by many within the SHIB community recently: why is the price of SHIB not moving up despite massive and regular token burns?

The team behind Shibburn, the $SHIB burn tracker, recently addressed a common misconception about token burns and price movement. They explained that despite “massive” burns, the price of $SHIB may not see significant movement without continuous and substantial token purchases to match the current purchase rate.

According to on-chain data, the outflow of Shiba Inu tokens from the wallets of large holders accelerated rapidly in the 24 hours of Saturday, from 268 million to 2.47 trillion SHIB. The reason for the sudden change is not clear, given that the price of the Shiba Inu token did not show any extraordinary dynamics during the same period.

Shibarium, the Ethereum-based layer-2 network of the Shiba Inu ecosystem has continued to hit impressive milestones with just a few weeks left for its mainnet to go live. The Latest Shibarium Milestone According to data from PuppyScan, the analytics platform that records on-chain transactions on the Shibarium protocol, the L2 scaling solution has crossed the

Shiba Inu (SHIB), one of the most popular meme cryptocurrencies, is gearing up for a significant move. Currently, the token is approaching a minor resistance cluster that holds approximately 7 trillion SHIB.

Coinone, one of South Korea's leading cryptocurrency exchanges, has announced the listing of Shiba Inu (SHIB) on its platform. The announcement marks a significant milestone for the meme coin, expanding its reach to South Korean traders and potentially boosting its liquidity.