A dormant Shiba Inu whale has withdrawn 220 billion SHIB worth about $4.63 million from Binance after five months of inactivity.
Shiba Inu’s December performance was mostly bearish, with the token seeing a notable 25% decline over the month. Despite rising 5% in the last 24 hours, SHIB price has struggled to recover from sustained losses.
Meanwhile, the latest rise has largely wiped out the weekly loss, which now stands at a decline of 0.54%, but a broader two-week analysis showed a decline of 7.7%. These downtrends coincided with significant whale activity and large outflows from Binance, raising concerns about SHIB’s distribution patterns.
Shiba Inu whale activity highlights major outflow
Recent data from Lookonchain revealed that a resting Shiba Inu whale, identified by the address 0xBf93560b1a6075…, reactivated after five months. The whale made a significant withdrawal of 220 billion SHIB worth about $4.63 million from Binance.
Previous transactions with the same whale, recorded 146 to 151 days ago, showed notable inflows and outflows. On the 146th day, the whale received 65.28 billion SHIB and subsequently transferred 1 million SHIB. Similarly, on day 151, the whale received 64.52 billion SHIB.
Sustained outflows reflect distribution trends
Further analysis by IntoTheBlock highlighted a persistent pattern of outflows from large holders that correlates with the falling price of SHIB. There has been a staggering 627.85% increase in outflows in the last seven days alone, suggesting increased distribution activity from key stakeholders.
Last month…
