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SHIB Whales Move $276 Million off Exchanges, What’s Next?

Since Shiba Inu’s [SHIB] price increased in January, it has gone through a period of fluctuating gains and losses. Despite the ebb and flow of the SHIB pricing, a wallet recently made several withdrawals, totaling a significant amount of the currency.

According to data from Santiment, six transactions totaling over 406 billion SHIBs apiece were observed from an exchange wallet on March 20. The transaction was worth $276 million and transferred from an exchange wallet to a self-custody wallet.

A glance at the transaction volume statistic revealed that the transactions caused a spike in the chart. The entire transaction volume on March 20 exceeded 370 million. Furthermore, the transaction volume increase induced by the transfer was the fourth largest rise in the first quarter.

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