Keith withdrew 4.2 trillion SHIB from the cryptocurrency exchange

The trend for withdrawing SHIB coins to user wallets continues. On January 19, 2024, another major withdrawal was carried out. In particular, the whale withdrew 4.2 trillion Shiba Inu coins (SHIB) to the wallet. At the time of withdrawal, the amount was 38 million in dollar equivalent. The withdrawal was made from the Bitvavo exchange. The operation was recorded by the Whale Alert service.

Major SHIB findings recently

At the end of last year and at the beginning of 2024, there were several large withdrawals of SHIB coins. In particular:

On December 26, 2023, 2.28 trillion coins were withdrawn from the Binance exchange.
December 29, 2023 – 4.25 trillion tokens.
December 30 last year – SHIB 4.24 trillion.
January 1, 2024 – 4.23 trillion coins.

It turns out that over a short period of time, 19.2 trillion SHIB coins were withdrawn from exchanges.

By the way, it is curious that on December 10, an unknown whale bought 4 trillion coins.

Coin performance at the time of the last withdrawal

As of the evening of January 19, the price of SHIB fluctuated around $0.00000917. At that moment, the coin showed a slight increase of within 1%. At the same time, the weekly chart showed a depreciation of 5.9%. Market capitalization: $5.44 billion. Daily trading volume: $164 million.

Current indicators

The screenshot shows that the coin is located on the 16th line of the CoinMarketCap rating. Price: $0.00000917. The daily chart recorded a slight increase: 0.66%. Weekly: -4.84%.

Possible reasons for withdrawing coins from the exchange

Apparently, the whales do not want to sell the coin. At least for now. Most likely, they expect the value of the token to increase in the medium or long term. Accordingly, now we need to ensure the safety of tokens.

Thus, it can be stated that whales do not want to trade the SHIB coin. They are withdrawing these assets from exchanges. It can be assumed that they are trying to save tokens, expecting future growth in the rate.

I wonder if whales will continue to withdraw SHIB assets from exchanges in the future? Now it’s worth paying attention to the further movement of tokens. If the withdrawal continues, then it will be possible to speak more confidently about a possible increase in the exchange rate in the medium term. When the whales begin to return assets to the exchanges, then we can talk about the beginning of active trading.