A significant surge in activity by major Shiba Inu (SHIB) holders was observed overnight, as reported by IntoTheBlock. Between August 12th and 13th, SHIB tokens moved out of large wallets at a rate 40% higher than the previous day. This resulted in an influx of over 351.6 billion SHIB, indicating substantial activity within less than 24 hours. 40% greater transfers indicate that whales were likely sending tokens to exchanges for sale or moving them from exchanges to private storage. Interestingly, despite this surge in outflows, the price of SHIB held steady at around $0.000014.
The lack of a significant price decline suggests that these large-scale movements by whales may have involved storing tokens in cold wallets rather than selling them on the market.