Here is How Much Shiba Inu (SHIB) Left Exchanges in the Past Week

The crypto analyst going on X (formerly Twitter) under the name Ali revealed that investors have withdrawn a substantial amount of two trillion SHIB tokens last week.

The stash equals almost $16 million (calculated at current rates).

  • According to Ali’s chart, outflows have been the highest on August 22 and August 23, accounting for around 80% of the total amount.
  • Currently, there are over 80 trillion Shiba Inu tokens sitting on cryptocurrency exchanges, equaling approximately $635 million.
  • It is worth mentioning that SHIB went through a brief price spike in the middle of the week, which could be one reason for the larger number of withdrawals.
  • Other X users have speculated that such investors might soon move the withdrawn tokens to Shibarium addresses. The layer 2 blockchain network, which aims to increase transaction speed, lower costs, and elevate the memecoin above its rivals, went live today (August 28).
  • Taking tokens off exchanges and moving to self-custody methods is usually viewed as a bullish factor for a coin’s price since the fewer coins sitting on trading platforms means less immediate selling pressure.
  • It will be interesting to follow if SHIB’s valuation will go up in the near future, considering the aforementioned developments. As of the moment, the self-proclaimed Dogecoin (DOGE) killer trades at $0.00000795 (per CoinGecko’s data), or 2% less than yesterday’s figure.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 97,588.15 3.24%
Ethereum (ETH) $ 3,347.44 7.51%
Tether (USDT) $ 1.00 0.09%
Solana (SOL) $ 245.93 3.13%
BNB (BNB) $ 624.69 1.12%
XRP (XRP) $ 1.13 0.48%
Dogecoin (DOGE) $ 0.388488 0.33%
USDC (USDC) $ 1.00 0.00%
Lido Staked Ether (STETH) $ 3,347.13 7.37%
Cardano (ADA) $ 0.79843 4.04%