In just 14 hours, transactions amounting to 1.4 trillion SHIB were recorded.
The transaction log shows a string of notable movements, especially from the hot wallets of major exchanges like Coinbase and Binance.
One transaction from the Coinbase hot wallet transferred 36.3 billion SHIB, worth approximately $1.03 million. The timing of these large-scale movements coincided with an explosive recovery in the Shiba Inu.
Currently, the Shiba Inu is moving in an uptrend, as suggested by the movement above the key moving averages.
The reasons behind whale movements can be diverse. Some investors may reallocate their portfolios in anticipation of potential market events or news that could affect SHIB's valuation. Others may take profits after the recent price rally or redistribute assets to diversify their strategies. Large movements can also be preparatory, setting the stage for greater market volatility.
