In a recent report by Santiment, an on-chain analytics firm, the trend among Shiba Inu whales’ holdings is discussed. These sizable holders are categorized into two groups: exchange whales and non-exchange whales.<\/p>\n
Exchange whales represent the 150 largest wallets on the network affiliated with centralized exchanges, while non-exchange whales are the top 150 self-custodial wallets.<\/p>\n
The chart provided by Santiment illustrates the supply changes in these groups over recent months.<\/p>\n
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The data shows a notable decrease in supply within the top 150 exchange wallets recently. Specifically, these exchange whales now hold 5.53 trillion fewer SHIB tokens compared to a month ago.<\/p>\n
Conversely, non-exchange whales have seen their holdings increase by approximately 6.57 trillion SHIB during the same period.<\/p>\n
This suggests that self-custodial investors have acquired tokens from exchange whales and potentially from smaller holders as well.<\/p>\n
Typically, investors store their tokens on exchanges for trading purposes, indicating the available sell supply of Shiba Inu.<\/p>\n
Therefore, the transfer of tokens from exchange whales to long-term holding self-custodial investors could be a positive indicator for SHIB’s future.<\/p>\n
The timing of these outflows is noteworthy, occurring during a price decline for the memecoin. This accumulation signifies that these whales view the recent price lows as favorable entry points.<\/p>\n
It will be interesting to observe whether the confidence displayed by these significant holders will result in a turnaround for SHIB, breaking its bearish trend and initiating a new upward movement.<\/p>\n