Recent on-chain data reveals that Shiba Inu whales have been moving substantial amounts of tokens off exchanges, indicating a potentially bullish outlook for SHIB's value. Santiment, an on-chain analytics firm, has identified two categories of these large holders: exchange whales and non-exchange whales. Exchange whales, associated with centralized exchanges, have significantly reduced their SHIB holdings, while non-exchange whales, self-custodial wallets, have seen an increase in their holdings. This shift suggests a transfer of tokens from exchanges to long-term investors, potentially boosting SHIB's price. Despite a recent price decline, whale accumulation at lower levels indicates confidence in the asset's future prospects. The coming days will reveal whether this trend reversal will propel SHIB towards a positive trajectory amidst a challenging period for the cryptocurrency market. Read more AI-generated news on: https://app.chaingpt.org/news