1.24 Trillion Shiba Inu (SHIB) Withdrawal Stuns Major US Exchange
The post 1.24 Trillion Shiba Inu (SHIB) Withdrawal Stuns Major US Exchange appeared on BitcoinEthereumNews.com.
Another day, another massive crypto transfer. This time, it is Shiba Inu (SHIB) grabbing attention with a jaw-dropping 1.24 trillion SHIB – worth around $20.14 million – suddenly moving out of Kraken, one of the biggest U.S.-based exchanges. Blockchain tracking service Whale Alert was quick to flag the transaction: funds left Kraken wallet “0x6d0” and ended up in an address labeled “0x22a.” At first, the recipient seemed unknown. The wallet had only been active for three months, and its ownership was unclear. But deeper analysis from Arkham Intelligence changed the narrative. It turns out that the address is still connected to Kraken. Related So, what initially looked like a major whale withdrawal was really just an internal reshuffling – Shiba Inu tokens moving from Kraken’s hot wallet to a deposit address. Not as dramatic, but still worth noting. Even so, large movements like this do not go unnoticed. In the crypto space, when massive amounts of a token leave an exchange, it often signals accumulation – big investors securing their assets off-exchange, potentially for long-term holding. Related There’s more. Arkham’s data showed that on the same day, Kraken saw total SHIB outflows of 733 billion tokens. And the most significant movements? They were all tied to that same deposit address. Could investor withdrawals be pushing Kraken to shuffle funds? Or is it just part of a broader liquidity management strategy? The timing is curious. SHIB’s price has been unpredictable, but that has not stopped major holders from making moves. Internal or not, a transfer this large sparks conversations. Is someone stockpiling SHIB? Is Kraken preparing for something bigger? Whatever the case, one thing is certain – the meme coin market is still making noise, and people are watching closely. Source: https://u.today/124-trillion-shiba-inu-shib-withdrawal-stuns-major-us-exchange
Filed under: News - @ February 6, 2025 7:23 pm