361B SHIB Moves Into $23.5M Whale Wallet as Shiba Inu Price Slides 2%

What happened

A wallet withdrew 361 billion Shiba Inu tokens from the Coinone exchange, reducing the amount of SHIB available on that trading platform. The price of Shiba Inu still slipped about 2% and stayed near a very low value.

Confirmed

Global impact / market context

Fewer tokens on an exchange usually means less immediate selling pressure, which can support the price. Even so, Shiba Inu dropped, suggesting other forces, like profit-taking or broader crypto weakness, outweighed that supply reduction.

Analyst inference

Large token transfers to private wallets often signal accumulation, a practice where investors hold assets expecting future gains. This happens as Shiba Inu trades at a very low price, making it attractive to speculative buyers seeking outsized percentage moves.

Analyst inference

What to watch

1. Watch whether the wallet that withdrew 361B SHIB keeps holding or later moves tokens to an exchange, which would signal possible selling intent. Confirmed
2. Proposal: Track exchange reserve data for further declines, as continued withdrawals could reduce available supply and create upward pressure on price. Proposed
3. If Shiba Inu fails to rebound despite falling reserves, investors may read that as weak demand, potentially leading to longer price stagnation. Analyst inference

Affected assets

• SHIB — Shiba Inu

Evidence

• coinpaper.com